The Rise and Fall of American Growth
The U.S. Standard of Living since the Civil War
by:
Robert J. Gordon
in:
U.S. History
Summary:
The book examines the unprecedented economic growth in the United States from 1870 to 1970, attributing it to a one-time burst of technological innovations. It argues that the slower growth since the 1970s is due to the plateauing of these innovations, with implications for future productivity and standards of living.
Key points:
1. Great Inventions: Gordon believes the 1870-1970 period of unique economic growth was due to major inventions like electricity and modern communication, which drastically changed American living standards.
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