Economic Evolution and Structure: The Impact of Complexity on the U.S. Economic System

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Frederic L. Pryor uses the concept of structural complexity to show how changes in the population, the labor force, the structure of industry, the financial system, foreign and domestic trade, and the government sector are related to the same general trend in the U.S. economic system over the past forty years and in the coming twenty years. The author investigates the impact of these changes on the functioning of the system, exploring such matters as the long-term rising unemployment rate, the alleged increasing volatility of the economy, the altering degree of competition, and the evolving economic role of the government.
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Editorial Reviews

From the Publisher
"The book is a tour de force. Professor Pryor has generally traveled the less frequented roads in his choice of topics, and he has done so again. This book is not a textbook but a very impressive study of recent U.S. economic history. It is based on a great breadth and depth of scholarship....This brief summary of the book cannot begin to do justice to the rich array of theoretical, statistical, and institutional detail provided in this monograph. Anyone interested in the recent economic history of the United States and potential future changes in the U.S. economy and economic system will do well to consult this monograph." Egon Neuberger, Journal of Comparative Economics

"...this work in its substance is quite impressive analytically as are the charts and tables. Highly recommended..." Choice

"This book represents an intriguing attempt by the author to document how growing economic complexity has affected and will affect the United States economy....This is an ambitious work..." John Willoughby, Journal of Economic Interest

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Product Details

  • ISBN-13: 9780521550970
  • Publisher: Cambridge University Press
  • Publication date: 5/28/2015
  • Pages: 384
  • Product dimensions: 5.98 (w) x 8.98 (h) x 1.02 (d)

Table of Contents

1. Complexity and the economy; 2. Population; 3. Labour force: complexity and unemployment; 4. Labour force: changes in sectors and organization; 5. Wealth, ownership and the financial structure; 6. Production institutions; 7. The behaviour of markets; 8. The foreign trade sector; 9. The government sector; 10. The future of US capitalism; Appendices.
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