But it really said the same thing that many other economics books said. If you read Thomas Piketty, you know that inequality basically comes down to the end of growth. He starts with the mostly-factual premises that growth will remain stalled while capital returns will continue at their historical rates. I'm still unsure about the latter premise myself, but the former is undeniable.
But we also need to distinguish economic growth from quality of life improvements. Quality of life, necessarily, has to come from productivity improvements (not in the dictionary sense of those words, but in the macro economic sense). The US GDP could be partially buoyant due to immigration, and partially due to demographics.
To some of the points of the article - companies would invest more if there was an expectation that new technologies were fundamentally transformative. I don't get that sense.
https://www.amazon.com/Rise-Fall-American-Growth-Princeton/d...
But it really said the same thing that many other economics books said. If you read Thomas Piketty, you know that inequality basically comes down to the end of growth. He starts with the mostly-factual premises that growth will remain stalled while capital returns will continue at their historical rates. I'm still unsure about the latter premise myself, but the former is undeniable.
But we also need to distinguish economic growth from quality of life improvements. Quality of life, necessarily, has to come from productivity improvements (not in the dictionary sense of those words, but in the macro economic sense). The US GDP could be partially buoyant due to immigration, and partially due to demographics.
To some of the points of the article - companies would invest more if there was an expectation that new technologies were fundamentally transformative. I don't get that sense.