2013 17th Issue: Feeble Technological Innovation Drags U.S. Long-term Economic Growth

  • Time:2013-12-26
  • source:CCIEE

2013 17th Issue: Feeble Technological Innovation Drags U.S. Long-term Economic Growth

[Abstract] In his paper Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds, the well-known American economist Robert Gordon, argues that the economic growth of industrialized countries actually began in the 18th century and the golden period of the U.S. economic growth is from 1906 to 1950, with a GDP growth per capita of 2.5%, thanks to the Second Industrial Revolution. Due to feeble technological innovation, nonetheless the U.S. economy will continue to slow down until 2100.

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