The Great Economic Slowdown
How Narrowed Technical Progress Brought Static Wages, Sky-High Wealth, and Much Discontent
Hian Teck Hoon author Gylfi Zoega author Edmund Phelps author
Format:Hardback
Publisher:Springer International Publishing AG
Published:1st Sep '23
Should be back in stock very soon
This book charts the fall of productivity growth and the rise of inequality within global economies and societies. Set out through a series of economic models, the impact of falling rates of productivity growth, particularly in the USA, are examined in relation to lowering interest rates, the lifting of the stock market, and an increasingly unequal distribution of wealth. The economic impact of COVID-19, including the increased tendency to work from home and renewed public debt pressures, are contextualised within broader issues of wage suppression and discontent within the labor force to highlight how average workers have been left behind. The rise of China and the geopolitical tensions that it has created is also discussed.
This book sets out the macro and microeconomic innovations that can create a revival in productivity growth in the coming years. It will be relevant to students and researchers interested in global economic trends and the political economy.
ISBN: 9783031314407
Dimensions: unknown
Weight: unknown
140 pages
2023 ed.