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Great Stagnation How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will(Eventually) Feel Better

ISBN-10: 0525952713
ISBN-13: 9780525952718
Edition: 2011
Authors: Tyler Cowen
List price: $12.95 Buy it from $7.49
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Description: Tyler Cowen's The Great Stagnation, the eSpecial heard round the world that ignited a firestorm of debate and redefined the nature of our economic malaise, is now-at last-a book. America has been through the biggest financial crisis since the great  More...

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Book details

List price: $12.95
Copyright year: 2011
Publisher: Penguin Publishing Group
Publication date: 6/9/2011
Binding: Hardcover
Pages: 128
Size: 5.50" wide x 8.00" long x 0.50" tall
Weight: 0.660
Language: English

Tyler Cowen's The Great Stagnation, the eSpecial heard round the world that ignited a firestorm of debate and redefined the nature of our economic malaise, is now-at last-a book. America has been through the biggest financial crisis since the great Depression, unemployment numbers are frightening, media wages have been flat since the 1970s, and it is common to expect that things will get worse before they get better. Certainly, the multidecade stagnation is not yet over. How will we get out of this mess? One political party tries to increase government spending even when we have no good plan for paying for ballooning programs like Medicare and Social Security. The other party seems to think tax cuts will raise revenue and has a record of creating bigger fiscal disasters that the first. Where does this madness come from? As Cowen argues, our economy has enjoyed low-hanging fruit since the seventeenth century: free land, immigrant labor, and powerful new technologies. But during the last forty years, the low-hanging fruit started disappearing, and we started pretending it was still there. We have failed to recognize that we are at a technological plateau. The fruit trees are barer than we want to believe. That's it. That is what has gone wrong and that is why our politics is crazy. Cowen reveals the underlying causes of our past prosperity and how we will generate it again. This is a passionate call for a new respect of scientific innovations that benefit not only the powerful elites, but humanity as a whole.

Acknowledgments
Preface to the Hardcover Edition
The Low-Hanging Fruit We Ate: Land, Technology, and Uneducated Kids
Our New (Not So) Productive Economy: Government, Health Care, and Education
Does the Internet Change Everything?: Price, Production, and Revenue
The Government of Low-Hanging Fruit: Left, Right, and Upside Down
Why Did We Have Such a Big Financial Crisis?: Bankers, Museum Directors, You, and Me
Can We Fix Things?: The Great Difference Then and Now
Notes
Index

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