Tyler Cowen: Great Stagnation

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Average Is Over: Powering America Beyond the Age of the Great Stagnation

by Tyler Cowen  · 11 Sep 2013  · 291pp  · 81,703 words

ALSO BY TYLER COWEN An Economist Gets Lunch The Great Stagnation The Age of the Infovore Discover Your Inner Economist DUTTON Published by the Penguin Group Penguin Group (USA) Inc., 375 Hudson Street, New York, New

| China Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R 0RL, England For more information about the Penguin Group visit penguin.com. Copyright © 2013 by Tyler Cowen All rights reserved. No part of this book may be reproduced, scanned, or distributed in any printed or electronic form without permission. Please do not

of the author’s rights. Purchase only authorized editions. REGISTERED TRADEMARK—MARCA REGISTRADA LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA Cowen, Tyler. Average is over : powering America beyond the age of the great stagnation / Tyler Cowen. pages cm Includes bibliographical references and index. ISBN 978-0-698-13816-2 1. Economic forecasting—United States. 2. United

was doing the research and writing on this one. I have benefited considerably from reading their work and from conversations with them. Contents Also by Tyler Cowen Title Page Copyright Dedication Epigraph PART I Welcome to the Hyper-Meritocracy 1 Work and Wages in iWorld 2 The Big Earners and the Big

very surprising time, and it is likely that new technologies already emerging will lead us out of what I called in a previous book “the great stagnation.” It is true that there has been a persistent slowdown in real economic growth in the Western world and Japan, but this book suggests how

, in today’s labor markets, stronger complements than before. The effect of those powerful new complements in our economy constitutes the road up from the great stagnation that I have written about elsewhere. But for all its rewards, it will be a scary path for many of us. 6 Why Intuition Isn

in need of help from the genius machines. PART III The New World of Work 9 The New Geography Looking back, we have seen a great stagnation of wages in the United States since about 1973. Given that this book offers a view of how that era of stagnation is going to

dialogue with Rosette, see http://orgtheory.wordpress.com/2011/10/22/2011 -loebner-prize-artificial-intelligence-still-has-a-long-way-to-go/. For a Tyler Cowen and Michelle Dawson paper on Turing, see “What Does the Turing Test Really Mean? And How Many Human Beings (Including Turing) Could Pass?”, June 3

an overview of the research on the connection between immigration and offshoring, see Tyler Cowen, “How Immigrants Create More Jobs,” The New York Times, October 30, 2010. On the importance of economic clustering, see the blog post by Noah Smith, “Great Stagnation . . . or Great Relocation?”, http://noahpinionblog.blogspot.com/2011/09 /great-stagnationor-great

, 198, 231–51 GPS technology, 7, 14–15, 113–15, 116–17 “Grand Unified Theories,” 212 Gränsmark, Patrik, 106 Great Recession (2008–2009), 54–59 “great stagnation,” 5 Greek symposia, 197 Greene, Brian, 212–13 Grischuk, Alexander, 109 Hanson, Gordon H., 164 Hanson, Robin, 135–36 Harvard University, 192–94, 201 Hauchard

The Great Stagnation

by Tyler Cowen  · 24 Jan 2011  · 76pp  · 20,238 words

, Registered Offices: 80 Strand, London WC2R 0RL, England Published by Dutton, a member of Penguin Group (USA) Inc. First printing, February 2011 Copyright © 2010 by Tyler Cowen All rights reserved <Dutton logo> REGISTERED TRADEMARK—MARCA REGISTRADA eISBN : 978-1-101-50225-9 Chart on page 14 reprinted from Technological Forecasting and Social

, namely that current innovation is more geared to private goods than to public goods. If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major

pay for themselves is one of the illusions of our age. From the American left, the call for redistributing income will get louder as the Great Stagnation continues. Taking income from the rich and giving it to the poor is one way—again, temporarily—of boosting the real income growth of the

to engage in a “fight to the death” over political control. In the meantime, the economy becomes less efficient and the negative dynamic accelerates. The Great Stagnation continues and indeed worsens, driven by an increasingly dysfunctional politics. In other words, even if we can, at the personal level, manage to feel fulfilled

latter goal. Have you read about the recent plans for the government-supported $1,000-down mortgage? We still haven’t learned our lesson. The Great Stagnation also helps explain why our government and our regulators ever allowed so much debt in the first place and why they didn’t slow down

.merage.uci.edu/papers/2009/InnovationAndJobCreation.pdf. Chapter 4 The Government of Low-Hanging Fruit On who pays how much of the tax burden, see Tyler Cowen and Alex Tabarrok, Modern Principles: Macroeconomics, New York: Worth Publishers, 2009, ch. 16, p. 340. The historian S. E. Finer first suggested that technology was

Boom: Bubbles and the End of Stagnation

by Byrne Hobart and Tobias Huber  · 29 Oct 2024  · 292pp  · 106,826 words

. Crucially, such bubbles decouple investment from purely rational, backward-looking expectations of economic return, which correspondingly reduces risk aversion. Therein lies our escape from the Great Stagnation. As we’ll argue in Chapter 1, a generalizable form of societal risk aversion is a key source of technological stagnation. Across nearly every aspect

to a more advanced and prosperous future—one in which we overcome the existential risk of not making enough progress. One could argue that the Great Stagnation is already over. Indeed, several recent developments have resulted in a resurgence of techno-optimism, from the rapid development of novel mRNA vaccines against Covid

age is characterized not only by stagnation and risk aversion but also by a lack of vision and a crisis of meaning. That is, the Great Stagnation is not just a techno-economic but also a spiritual and cultural phenomenon. 6 While the present is dominated by a rhetoric of inexhaustible progress

the past so we can create the future. As such, this book is an exhortation to take more risks and speed the transition from the Great Stagnation to the Great Acceleration. If only one reader starts a new hard-tech company, contributes to a scientific breakthrough, or takes some other risk with

accounts of techno-economic stagnation focus on a single overarching explanation: The low-hanging fruit has already been picked. In his 2011 book The Great Stagnation, economist Tyler Cowen identifies three pivotal developments that accelerated technological progress: the cultivation of land, the exploitation of 18th- and 19th-century scientific breakthroughs, and the increasing value

change and the ESG (environmental, social, and governance) rules that go along with it. While innovation in renewable and clean technologies could theoretically stimulate growth, Tyler Cowen argues that these “defensive” innovations would likely only sustain present living standards, because they focus on solving existing problems rather than creating something radically new

.” But it’s not just financial markets. Western culture itself has been fully absorbed into the simulacrum—a phenomenon that is inextricably entangled with the Great Stagnation. The Last Man: Simulation and stagnation Stagnation, and the societal risk aversion at its core, also manifests in popular culture. The signs of cultural sclerosis

health care, a sector in which productivity gains have been difficult to achieve. Escaping the Great Stagnation is the only way to achieve the economic growth required to make good on existing promises to the elderly. 17 Tyler Cowen, “The New Tesla Is Great, But It Isn’t Progress,” Bloomberg, August 1, 2017, https

of individuality into “uniformity.” This critique of technological modernity can appear extreme or outdated, but it unmistakably identifies some of the essential drivers of the Great Stagnation. Heidegger, Poetry, Language, Thought, 166. 88 Anticipating the current monopolistic and highly centralized version of the internet, author Neil Postman argues that, given that consumers

the funding process often determines the trajectory of scientific research, even when it is at odds with the preferences and interests of researchers. Patrick Collison, Tyler Cowen, and Patrick Hsu, "What We Learned Doing Fast Grants," Future, June 15, 2021, https://future.com/what-we-learned-doing-fast-grants/. 106 Johan S

and optimistic visions we need in order to arrest and reverse stasis and decline. Under the right conditions, they are ideal exit ramps from the Great Stagnation. Historically, bubbles are recurrent phenomena. From tulips to Bitcoin, they’ve formed in a multitude of markets. Yet this familiarity has gained them little favor

one has gone so far as to suggest that bubbles offer a way out of stagnation. If, as we’ve argued, the source of the Great Stagnation is societal risk aversion, then the only way out is to promote a culture that nurtures risk-taking, embraces uncertainty and failure, and pursues aggressive

scale and with a smaller range of outcomes because we’ve gotten better at managing risks. In a sense, it’s a bet on the Great Stagnation itself. Take subprime mortgages. A diversified portfolio of subprime mortgages delivered an attractive return to investors in the early 2000s. But nobody excited about housing

Madness of Crowds (New York: Simon and Schuster, 2012). 134 Bitcoin is a novel general-purpose technology that has escaped the gravitational pull of the Great Stagnation. By solving the problem of digital scarcity, it represents a radically novel mechanism to send and store value across time and space. And by inducing

-be-balanced-noted-biologist-comes-defense-gene-editing-babies. Cole, Stephen. “Age and Scientific Performance.” American Journal of Sociology 84 (1979): 958–977. Collison, Patrick, Tyler Cowen, and Patrick Hsu. “What We Learned Doing Fast Grants.” Future, June 15, 2021. https://future.com/what-we-learned-doing-fast-grants/. Collison, Patrick, and

. “Science Is Getting Less Bang for Its Buck.” The Atlantic, November 16, 2018. Colquhoun, David. “Challenging the Tyranny of Impact Factors.” Nature 423 (2003): 479. Cowen, Tyler. The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better. London: Penguin, 2011

. Cowen, Tyler. “The New Tesla Is Great, But It Isn’t Progress.” Bloomberg, August 1, 2017. https://www.bloomberg.com/view/articles/2017-08-01/the-new-

tesla-is-great-but-it-isn-t-progress. Cowen, Tyler, and Ben Southwood. “Is the Rate of Scientific Progress Slowing Down?” GMU Working Paper in Economics, no. 21–13 (2019). Crowley, Roger. 1453: The Holy

of Cyberspace: A History of Space from Dante to the Internet. New York: W. W. Norton, 1999 Acknowledgments We would like to thank Michael Gibson, Tyler Cowen, Patrick Collison, Jeremy Welch, Justin Murphy, Jeff Huber, Judge Glock, Philo Davidson, Paul Millerd, David Perell, Rohit Krishnan, and Dwarkesh Patel for feedback on earlier

Capitalism Without Capital: The Rise of the Intangible Economy

by Jonathan Haskel and Stian Westlake  · 7 Nov 2017  · 346pp  · 89,180 words

explanation for this weird mix of cheap money and low investment is simply that the demand for investment has fallen. In his 2011 bestseller The Great Stagnation, economist Tyler Cowen suggested that developed countries might have exhausted easy sources of good investments, such as settling new land or getting children to spend more years

percent of the 1930 US birth cohort graduated from high school, 85 percent of the 1975 cohort did (Goldin and Katz 2008). Robert Gordon and Tyler Cowen have argued that there are diminishing returns here—children and young people can only spend so long in school or college—and that this will

–85. Corrado, Carol A., M. O’Mahony, and Lea Samek. 2015. “Measuring Education Services as Intangible Social Infrastructure.” SPINTAN Working Paper Series, No. 19. Cowen, Tyler. 2011. The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better. Penguin eSpecial from Dutton. CQ Researcher

and, 177 Cook, Tim, 51 copyright, 76–79, 165, 213 Corbyn, Jeremy, 223 Corrado, Carol, 4, 5, 42, 43, 45 cost of intangible investment, 28 Cowen, Tyler, 93, 228 Coyle, Diane, 4, 36 “creative class,” the, 215 Criscuolo, Chiara, 96 crowdfunding, 166 CT scanners, 59–61, 104, 204 cult of the manager

R., 168 Great Depression, 36, 127 “Great Doubling, The” (Freeman), 124 Great Invention: The Story of GDP, The (Masood), 36 Great Recession, 103, 108, 116 Great Stagnation, The (Cowen), 93 Greenspan, Alan, 40, 244n3 Greenstein, Shane, 139 Griliches, Zvi, 38, 62 gross domestic product (GDP), 3, 20, 42; difficulty in calculation of, 37

The Complacent Class: The Self-Defeating Quest for the American Dream

by Tyler Cowen  · 27 Feb 2017  · 287pp  · 82,576 words

at the same time as a slowdown in the rate of technological progress, starting in the 1970s, as I outlined in my earlier book, The Great Stagnation. In 1973, the oil price shock and then some bad policy decisions hurt the American economy a great deal. The American government eventually repaired most

: Changes in the Locational Choice of the College Educated.” Quarterly Journal of Economics 115, no. 4 (November 2000): 1287–1315. Cowen, Tyler. Average Is Over: Powering America beyond the Age of the Great Stagnation. New York: Dutton, 2013. Dao, Mai, Davide Furceri, and Prakash Loungani. “Regional Labor Market Adjustments in the United States and

, DC Watts riots Weather Underground Wikipedia YouTube. See also social media Zuckerberg, Mark ALSO BY TYLER COWEN Average Is Over The Great Stagnation An Economist Gets Lunch The Age of the Infovore Discover Your Inner Economist ABOUT THE AUTHOR TYLER COWEN (Ph.D.) holds the Holbert C. Harris chair in economics at George Mason University. He

of Our Time 9. The Return of Chaos, and Why the Complacent Class Cannot Hold Notes References Index Also by Tyler Cowen About the Author Copyright THE COMPLACENT CLASS. Copyright © 2017 by Tyler Cowen. All rights reserved. Printed in the United States of America. For information, address St. Martin’s Press, 175 Fifth Avenue

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies

by Erik Brynjolfsson and Andrew McAfee  · 20 Jan 2014  · 339pp  · 88,732 words

residential America from window unit air conditioners to central air conditioning.5 Gordon is far from alone in this view. In his 2011 book The Great Stagnation, economist Tyler Cowen is definitive about the source of America’s economic woes: We are failing to understand why we are failing. All of these problems have

big gap between major innovations, economic growth will eventually peter out. We’ll call this the ‘innovation-as-fruit’ view of things, in honor of Tyler Cowen’s imagery of all the low-hanging fruit being picked. In this perspective, coming up with an innovation is like growing fruit, and exploiting an

): those who study economics and other social sciences, and those who build technologies. In the former group Susan Athey, David Autor, Zoe Baird, Nick Bloom, Tyler Cowen, Charles Fadel, Chrystia Freeland, Robert Gordon, Tom Kalil, Larry Katz, Tom Kochan, Frank Levy, James Manyika, Richard Murnane, Robert Putnam, Paul Romer, Scott Stern, Larry

Over? Faltering Innovation Confronts the Six Headwinds, Working Paper (National Bureau of Economic Research, August 2012), http://www.nber.org/papers/w18315. 5. Ibid. 6. Tyler Cowen, The Great Stagnation: How America Ate All the Low-hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better (New York: Dutton, 2011). 7. Gavin

GPTs? (Rochester, NY: Social Science Research Network, 2008), http://papers.ssrn.com/abstract=1275023. 10. Gordon, Is U.S. Economic Growth Over?, p. 11. 11. Cowen, The Great Stagnation, location 520. 12. Gordon, Is U.S. Economic Growth Over?, p. 2. 13. Kary Mullis, “The Polymerase Chain Reaction” (Nobel Lecture, December 8, 1993

); automation; digitization computer search computer viruses Confucius consumer products consumer surplus content, user-generated see also social media Cook, Philip Cook, Scott copyrights cotton gin Cowen, Tyler C-Path Cragin, Bruce Craigslist “Cramming More Components onto Integrated Circuits” (Moore) Cray-2 supercomputer creativity see also innovation crowdsourcing Cuba culturomics Curtis, William CVS

government, U.S.: GPS satellites maintained by see also economic growth, government role in GPS Graetz, Michael graphics, digital graphs, logarithmic Great Depression Great Recession Great Stagnation, The (Cowen) Greenspan, Alan Greenstein, Shane Greenwood, Jeremy Gregersen, Hal Grimbergen gross domestic product (GDP): alternative metrics to effect of Great Recession on increases in omissions

Big Business: A Love Letter to an American Anti-Hero

by Tyler Cowen  · 8 Apr 2019  · 297pp  · 84,009 words

Paper No. 1223. Organisation for Economic Co-operation and Development, Paris. Cowen, Tyler. 1998. In Praise of Commercial Culture. Cambridge, MA: Harvard University Press. Cowen, Tyler. 2012. An Economist Gets Lunch. New York: Dutton. Cowen, Tyler. 2016. “When Products Talk.” New Yorker, June 1, 2016. Cowen, Tyler. 2017a. The Complacent Class: The Self-Defeating Quest for the American

Dream. New York: St. Martin’s Press. Cowen, Tyler. 2017b. “Work Isn’t So Bad After All

.” In Elizabeth Anderson, Private Government: How Employers Rule Our Lives (and Why We Don’t Talk About It), 108–117. Princeton, NJ: Princeton University Press. Cowen, Tyler. 2017c. “The New World of Monopoly? What About

Flying?” Marginal Revolution (blog), September 2, 2017. Cowen, Tyler. 2017d. “Facebook’s Harm Is Taking Life out of Context.” Bloomberg View, September 20, 2017. Cowley, Stacy

, Matthew J. Zingales, Luigi zombie banks Zuckerberg, Mark See also Facebook ALSO BY TYLER COWEN The Complacent Class Average Is Over The Great Stagnation An Economist Gets Lunch The Age of the Infovore Discover Your Inner Economist ABOUT THE AUTHOR TYLER COWEN, Ph.D., holds the Holbert L. Harris Chair in Economics at George Mason University

Is a Firm, Anyway, and Why Do So Many Workers End Up So Frustrated? Acknowledgments Notes Selected Bibliography Index Also By Tyler Cowen About the Author Copyright BIG BUSINESS. Copyright © 2019 by Tyler Cowen. All rights reserved. For information, address St. Martin’s Press, 175 Fifth Avenue, New York, N.Y. 10010. www.stmartins

.com Cover photograph of city © Predrag Vuckovic / Getty Images The Library of Congress has cataloged the print edition as follows: Names: Cowen, Tyler, author. Title: Big business

: a love letter to an American anti-hero / Tyler Cowen. Description: New York: St. Martin’s Press, [2019] | Includes bibliographical references and index. Identifiers: LCCN 2018045701 | ISBN 9781250110541 (hardcover

Stubborn Attachments: A Vision for a Society of Free, Prosperous, and Responsible Individuals

by Tyler Cowen  · 15 Oct 2018  · 140pp  · 42,194 words

outcomes for societies that come with it, every individual must become more concerned with the welfare of those around us. So, how do we proceed? Tyler Cowen, in a culmination of twenty years of thinking and research, provides a roadmap for moving forward. In this new book, Stubborn Attachments: A Vision for

for his interest in publishing this book with Stripe. Biography Tyler Cowen is a Holbert L. Harris Professor at George Mason University and Director of the Mercatus Center. He received his PhD in economics from Harvard University in 1987. His book The Great Stagnation: How America Ate the Low-Hanging Fruit of Modern History

American Dream. Stubborn Attachments: A Vision for a Society of Free, Prosperous, and Responsible Individuals © 2018 Tyler Cowen All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying

about redistribution? 6—Must uncertainty paralyze us? Conclusion—where have we landed? Appendix A Appendix B References Landmarks Cover Table of Contents Start of Content Tyler Cowen Stubborn Attachments A vision for a society of free, prosperous, and responsible individuals 1—Introduction When it comes to the future of our world, we

now regard the large number of women in earlier centuries who died in childbirth for lack of proper care. I myself have written of the great stagnation, a slowdown in growth which overtook the Western world starting in about 1973. It would be a failure of imagination, however, to believe that human

, William Easterly, and Erick Gong. 2010. “Was the Wealth of Nations Determined in 1000 B.C.?” American Economic Journal: Macroeconomics 2, no. 3: 65–97. Cowen, Tyler. 1992. “Consequentialism Implies a Zero Intergenerational Rate of Discount.” In Philosophy, Politics, and Society: Volume 6, Justice Between Age Groups and Generations, edited by Peter

. “What Do We Learn from the Repugnant Conclusion?” Ethics 106: 754–775. Cowen, Tyler. 1997. “Discounting and Restitution.” Philosophy and Public Affairs 26, no. 2 (April): 168–185. Cowen, Tyler. 1998. In Praise of Commercial Culture. Cambridge: Harvard University Press. Cowen, Tyler. 2004. “Policy Implications of Zero Discounting: An Exploration of Politics and Morality.” Social Philosophy

and Policy 21, no. 1: 121–140. Cowen, Tyler. 2006. “The Epistemic Problem Does Not Refute Consequentialism.” Utilitas 18

, no. 4: 383–399. Cowen, Tyler. 2005. “Resolving the Repugnant Conclusion.” In The Repugnant Conclusion: Essays on Population Ethics, edited by J. Ryberg and

T. Tannsjo, 81–98. Dordrecht: Kluwer Academic Publishers. Cowen, Tyler. 2007. “Caring About the Distant Future: Why It Matters and What It

Means.” The University of Chicago Law Review (Winter): 5–40. Cowen, Tyler. 2011. “Rule Consequentialism Makes Sense After All.” Social Philosophy and Policy 28, no. 2

(July): 212–231. Cowen, Tyler, and Derek Parfit. 1992. “Against the Social Discount Rate.” In Philosophy, Politics, and Society: Volume 6

suppose this means I will remain stubbornly attached to Yonas. And with the publication of this book, Stripe Press is now stubbornly attached to me. —Tyler Cowen

An Economist Gets Lunch: New Rules for Everyday Foodies

by Tyler Cowen  · 11 Apr 2012  · 364pp  · 102,528 words

AN ECONOMIST GETS LUNCH ALSO BY TYLER COWEN The Great Stagnation The Age of the Infovore Discover Your Inner Economist T Y L E R C O W E N A N E C O N

Dutton, a member of Penguin Group (USA) Inc. First printing, April 2012 1 3 5 7 9 10 8 6 4 2 Copyright © 2012 by Tyler Cowen All rights reserved. No part of this book may be reproduced, scanned, or distributed in any printed or electronic form without permission. Please do not

violation of the author’s rights. Purchase only authorized editions. REGISTERED TRADEMARK—MARCA REGISTRADA LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA Cowen, Tyler. An economist gets lunch : new rules for everyday foodies / Tyler Cowen. p. cm. Includes bibliographical references and index. ISBN: 978-1-101-56166-9 1. Food habits—Economic aspects. 2. Food

of innovation. Being a better and wiser consumer is one way we can bring more progress into our lives and so fight back against “the great stagnation” I have written about elsewhere. This is a book about food and eating, but it’s not just a book about food and eating. Broader

China is making no major new agriculture technologies, but fundamentally new agricultural productivity improvements have slowed down since at least the 1990s, another kind of “great stagnation.” The problem is worse because the United States is increasing its demands for foodstuffs through the use of biofuels, most of all corn-based ethanol

. Mexican food from California uses more produce, as befits the diversified agriculture of the state. Avocados, sour cream, and Spanish olives are especially common. See Tyler Cowen, Creative Destruction: How Globalization is Changing the World’s Cultures (Princeton: Princeton University Press), 2002, chapter four, for information on the differential spread of television

What Went Wrong: How the 1% Hijacked the American Middle Class . . . And What Other Countries Got Right

by George R. Tyler  · 15 Jul 2013  · 772pp  · 203,182 words

PEARLSTEIN, Washington Post, September 2010 “American companies often save on costs by finding lower wages abroad, not by enhancing the abilities of American workers.”4 TYLER COWEN, George Mason University, August 2011 “These are the jobs that have created the Midwestern middle class for generations. Manufacturing jobs paid for college educations, including

Hand,” Finance and Development, International Monetary Fund, Washington, September 2011. 32 David Brooks, “The Biggest Issue,” New York Times, July 29, 2008. See also Tyler Cowen, The Great Stagnation (New York: A Penguin Group e-Special from Dutton, 2011). 33 Claudia Goldin and Lawrence F. Katz, The Race Between Education and Technology (Cambridge, MA

McCormack, Alliance for American Manufacturing, 2009. 2 Robert Reich, Aftershock, 56. 3 Steven Pearlstein, “The Bleak Truth About Unemployment,” Washington Post, Sept. 8, 2010. 4 Tyler Cowen, “The Sad Statistic That Trumps the Others,” New York Times, Aug. 21, 2011. 5 Jeffrey Immelt, “Renewing American Leadership,” General Electric, Dec. 9, 2009. 6

, 393, 442 Australia, 446 German, 174n, 387–88, 446 mergers, 154 family firms 178 Coibion, Olivier (economist), 221 Coward, Joe (economist), 46, 266–67, 513n6 Cowen, Tyler (George Mason University), 344 Cowie, Jefferson (historian), 96 Cox, Christopher (Congressman), 81 Coyle, Diane (professor), 126 Credit bubble, 36, 68, 219 credit crisis (2007/2008

Race Against the Machine: How the Digital Revolution Is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy

by Erik Brynjolfsson  · 23 Jan 2012  · 72pp  · 21,361 words

Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia

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Human Frontiers: The Future of Big Ideas in an Age of Small Thinking

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Restarting the Future: How to Fix the Intangible Economy

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Bourgeois Dignity: Why Economics Can't Explain the Modern World

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Growth: A Reckoning

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The Wealth of Humans: Work, Power, and Status in the Twenty-First Century

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Rise of the Robots: Technology and the Threat of a Jobless Future

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The Innovation Illusion: How So Little Is Created by So Many Working So Hard

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The Retreat of Western Liberalism

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Head, Hand, Heart: Why Intelligence Is Over-Rewarded, Manual Workers Matter, and Caregivers Deserve More Respect

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The Great Divergence: America's Growing Inequality Crisis and What We Can Do About It

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Capitalism in America: A History

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The Economic Singularity: Artificial Intelligence and the Death of Capitalism

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Social Democratic America

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The Gated City (Kindle Single)

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The Third Pillar: How Markets and the State Leave the Community Behind

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The New Class Conflict

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The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order

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The End of Alchemy: Money, Banking and the Future of the Global Economy

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European Spring: Why Our Economies and Politics Are in a Mess - and How to Put Them Right

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A World Without Work: Technology, Automation, and How We Should Respond

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The Cost of Inequality: Why Economic Equality Is Essential for Recovery

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The Upside of Inequality

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Utopia for Realists: The Case for a Universal Basic Income, Open Borders, and a 15-Hour Workweek

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The Shifts and the Shocks: What We've Learned--And Have Still to Learn--From the Financial Crisis

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