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

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

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Overview

The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better by Tyler Cowen, Paul Boehmer

America has been through the biggest financial crisis since the great Depression, unemployment numbers are frightening, median 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 than 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.

Product Details

ISBN-13: 9781452653686
Publisher: Tantor Media, Inc.
Publication date: 06/30/2011
Edition description: MP3 - Unabridged CD
Product dimensions: 5.30(w) x 7.60(h) x 0.60(d)

About the Author

Tyler Cowen is a professor of economics at George Mason University. He is a prominent blogger at marginalrevolution.com, the worldas leading economics blog. He also writes regularly for "The New York Times," and has written for "Forbes, The Wall Street Journal," and "The Washington Post,"

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The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better 3.7 out of 5 based on 0 ratings. 44 reviews.
James Jenkins More than 1 year ago
This book provides some fresh perspectives on why our economy is struggling as much as it is. I found myself agreeing with a lot of the points, although I still need some to mull iver the validity if them. It is short and under $4. If you have an interest in current events I suggest you check it out.
Anonymous More than 1 year ago
An interesting alternative look at todays economy
Anonymous More than 1 year ago
I liked this about as much as Cowen's other work, "Average is Over," which is to say: three stars.  It's a decent book with interesting ideas, and while I'm at least capable of being convinced of what Cowen is trying to prove, he doesn't make much of a case.  His theories seem to be the result of casual observation and baseless hypothesis, not rigorous analysis or erudite research.  He may be onto something, but this work is too easily dismissed with a casual wave of the hand.  A good read at 60 pages, but I'm glad it wasn't longer, given the quality.
Anonymous More than 1 year ago
Though I have only recently read this book I found much of it to be still thought provoking. Cowen introduces his ideas in common layman's terms yet they are provocative and engage the reader! I thoroughly enjoyed the book.
Anonymous More than 1 year ago
Scholarly economics-based summary of societal evolution that is contributing to resource polarization. Especially important points are lack of true innovation in favor of redundancy. Now with IPO of Twitter, wonder how many ways does 13 year old NEED to say 'wha's up'?
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