Why robert gordon thinks growth is over and what we. Gates, an avid reader who frequently blogs about new books he likes, gives the book a ringing endorsement for its economic analysis and. Macroeconomics 12th edition pearson series in economics. The book is based on the idea that economic growth is not a steady process that creates eco. Gordon has long been associated with the view that future economic growth will be slower than that of the fairly recent past. The rise and fall of american growth the enlightened. Bill gatess advice on how to read one of the most provocative economics books of the year. Economics 11th edition lipsey free download this set of free downloadable textbooks is. If you add up all of the innovations made from the late 1800s up to 1970, theres been no comparable stretch of economic growth, before or since, says economist robert gordon. At a time when so many pivotal economic issues are closely tied to the business cycle and monetaryfiscal policy, robert gordon provides critical insight into the american and global economy. Robert gordon, a celebrated economic historian and northwestern university professor, addresses these questions in his magisterial new book, the rise and fall of american growth. Both his parents robert aaron and margaret earned distinction independently, each contributing to economic knowledge with a view to real practical benefit for society, as did his brother david, himself more of a radical. Bill gatess advice on how to read robert gordons the.
Everyday low prices and free delivery on eligible orders. His study focuses on what he calls the special century from 1870 to 1970in which living standards increased more rapidly than at any time before or after. He is the author of a textbook in intermediate macroeconomics, now in its 12th edition, and has completed a new book, the rise and fall of american growth. Robert gordon s the rise and fall of american growth is an impressively researched, welldocumented economic history of the late nineteenth century and twentieth century us. It traces how new technologies have transformed everyday living.
He is a research associate at the national bureau of economic research nber, a research fellow of the centre for economic policy research in london, a guggenheim fellow, a fellow of the american academy of arts and sciences, and a fellow of the econometric society. Robert gordon is a macroeconomist with a particular interest in unemployment, inflation, and both the longrun and cyclical aspects of labor productivity. Professor gordon is one of the worlds leading experts on inflation, unemployment, and productivity growth. Soon all subsequent macro textbooks were expounding the expectations augmented phillips curve. After that, gordon presents a unique dynamic analysis of demand and supply shocks as causes of inflation and unemployment, followed by a dual approach to economic growth in which theory and realworld examples are used to compare rich and poor countries. The rise and fall of american growth by robert gordon. Macroeconomics builds from an early emphasis on business cycles and monetaryfiscal policy, in both the closed and open economy, to a dynamic analysis of. Northwestern economics professor robert gordon has a written a mostly very good and a very long book 762 pages in the print edition on the history of economic growth in the united states from 1870 to the present. The rise and fall of american growth princeton university press. He is the author of a textbook in intermediate macroeconomics, now in its 12th edition, and has completed a new book, the rise and fall of american growth, published by the princeton university press in january, 2016.
His recent research includes work on the rise and fall of the new economy, the u. Maybe it is because of the nature of the book s subject, so it was inevitable that most readers found it dry. Gordon has written prolifically about the problems facing contemporary economic growth, casting a sobering doubt on the ability of our current innovations what he calls the third industrial revolution, including all our fancy gadgets to power the economy the way previous waves of invention. The coincidence that john keegans longawaited history. American economic history g force books and arts the. Department of economics northwestern university kellogg global hub 2211 campus drive. Department of economics northwestern university kellogg global hub 2211 campus drive evanston il 602082600. Robert gordon s most popular book is cant be satisfied.
Anybody who is tempted by this argument should read robert gordon s magnificent new book. Robert gordon has written a magnificent book on the economic history of the united states over the last one and a half centuries. Faltering innovation confronts the six headwinds robert j. Robert gordon has 105 books on goodreads with 7518 ratings. The best economics books of 2016 the washington post. The future is not what it used to be, robert gordon says. Harris professor in the social sciences and professor of economics at northwestern university. One of the economists economics and business books of the year 2016. Chief among the doomsayers is robert gordon, whose new book forecasts stagnant productivity for the united states for the foreseeable future. A second issue is that throughout the first two parts of the book, gordon repeatedly explains why it is not possible to evaluate the impact of. Perspectives on the rise and fall of american growth by robert j. Harris professor of the social sciences and professor of economics in the weinberg college of arts and sciences, systematically supported the thesis of his recent bestselling book, the rise and fall of american growth, by citing economic statistics that indicate the best years for growth in the united. It questions the assumption, nearly universal since solows seminal contributions of the 1950s, that economic growth is a continuous process that will persist forever.
Gordon, a highly respected economist at northwestern university, has produced what will endure as a masterpiece. D24,e2,e66,j11,j15,o3,o31,o4,q43 abstract this paper raises basic questions about the process of economic growth. He holds a bachelors degree from harvard university, after which he attended oxford university in england on a marshall scholarship. Gordon, a distinguished macroeconomist and economic historian at northwestern, has been arguing for a long time against the technooptimism that saturates our culture, with its constant assertion that were in the midst of revolutionary change. In the century after the civil war, an economic revolution improved the american standard of living in. This book will challenge your views about the future. A member of the national bureau of economic research, his most notable work is. This paper raises basic questions about the process of economic. He argues that the period from 1870 to 1970 was truly a period of unprecedented economic and technological revolution, radically altering the practices of daily life. Economist robert gordon lays out 4 reasons us growth may be slowing, detailing factors like epidemic debt and growing inequality, which could move the us into. Gordons popular text macroeconomics was the first to incorporate the rational expectations hypothesis into the analysis of the phillips curve. Although the book was a dense 650 pages i thought that the time invested in reading it was amply rewarded. Some experts think that the current global economic slowdown is a temporary blip in longterm growth.
Rise and fall of american growth, the the princeton economic. Gordon aims to show that future economic growth will inevitably be lower than during the golden period between 1870 and 1970, due to the declining marginal return on new technology. But the first 80% of robert gordon s the rise and fall of. A conversation with the author of some controversial academic papers that project paltry economic growth in the future. Or is my time better spent reading 23 other good economics books of shorter. Akerlof, of phishing for phools and animal spirits, among other books all princeton. A new book by economist robert gordonthe rise and fall of american growthis causing quite a stir. In addition, gordon has written for economic journals, outlining the relation of the productivity growth of. If hes right, and one links this with growing income inequality, our wouldbe leaders will have difficulty in making the case for achieving the american dream through steady incremental progress achieved through collaboration and political compromise.
Macroeconomics 12th edition pearson series in economics hardcover by robert j gordon. Robert gordon, the special century, and the prospects for. One of financial times best economics books of 2016. While the latter chapters of the book contain many relevant economic statistics, they. Gordon news newspapers books scholar jstor november 2019 learn how and. He is the author of several books, more than 100 scholarly articles, and more than 60 published comments on the research of others. An american economist who teaches at northwestern university, mr gordon.
The book is without peer in providing a statistical analysis of the uneven pace of growth and. Development of the american economy, economic fluctuations and growth, productivity, innovation, and entrepreneurship. November 1979 energy efficiency, user cost changes, and the measurement of durable goods prices. Statistics for business and economics 11th edition. He is sterling professor of economics at yale university and a regular contributor to the new york times. Standard of living since the civil war the princeton economic history of the western world by gordon, robert j. Robert samuelson, washington post the rise and fall of american growth is likely to be the most interesting and important economics book of the year.
The economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them. Robert gordons book shows that with the right policies such a goal is achievable in the economic and social sphere, but the task will not be easy. Aldcroft, studies in the interwar european economy, brookfield vt. Download macroeconomics 8th edition mankiw pdf macroeconomics 8th edition mankiw pdf documents. What may be the years most important book on economics has already been published. Gordons most popular book is the rise and fall of american growth. In the century after the civil war, an economic revolution improved the. The princeton economic history of the western world. Gordon has 31 books on goodreads with 11441 ratings. Perspectives on the rise and fall of american growth. The us economy has been expanding wildly for two centuries. Rise and fall of american growth, the the princeton. Bill gatess advice on how to read robert gordons the rise and. Gordon is a wellknown economist and a professor at northwestern university.
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