The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War (The Princeton Economic History of the Western World)
In the century following the Civil War, a fiscal revolution improved the American lifestyle in ways previously unimaginable. Electric lighting, indoor plumbing, home equipment, automobiles, flights, ac, and television transformed households and workplaces. With medical advances, endurance between 1870 and 1970 grew from forty-five to seventy-two years. Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth offers an in-depth account on this momentous era. But has those years of unprecedented growth end?
Gordon challenges the scene that economic growth can or continues unabated, anf the husband demonstrates the life-altering scale of innovations between 1870 and 1970 cannot be repeated. He contends which the nation’s productivity growth, that has already slowed to some crawl, are going to be further held back with the vexing headwinds of rising inequality, stagnating education, an ageing population, as well as the rising debt of faculty students along with the federal government. Gordon warns which the younger generation would be the first in American history that isn’t able to exceed their parents’ total well being, understanding that rather than count on the great advances of the past, we have to find new methods to overcome troubles facing us.
A critical voice within the debates over economic stagnation, The Rise and Fall of American Growth is in once a tribute to some century of radical change as well as a harbinger of tougher times to return.