Perspectives on The Rise and Fall of American Growth

Robert J. Gordon

American Economic Review, 2016, vol. 106, issue 5, 72-76

Abstract: This paper summarizes the book and assesses the reviews contained in the four contributed papers. Gregory Clark provides convincing arguments that extend the book's forecast that future technological change will be slower. Nicholas Crafts shows declining mortality and shorter work hours greatly increase welfare-augmented TFP growth during 1929-50. Benjamin Friedman points out that optimism about future technological change casts doubt on future employment growth, while technological pessimism implies employment optimism. Daron Acemoglu and co-authors emphasize the institutional environment that influences the timing and magnitude of innovation.

JEL-codes: E23 N11 N12 N71 N72 O33 O47 (search for similar items in EconPapers)
Date: 2016
Note: DOI: 10.1257/aer.p20161126
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Citations: View citations in EconPapers (193)

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