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The great economic slowdownhow narrowed technical progress brought static wages, sky-high wealth, and much discontent /

Record Type:	Electronic resources : Monograph/item
Title/Author:	The great economic slowdownby Edmund Phelps, Hian Teck Hoon, Gylfi Zoega.
Reminder of title:	how narrowed technical progress brought static wages, sky-high wealth, and much discontent /
Author:	Phelps, Edmund S.
other author:	Hoon, Hian Teck.
Published:	Cham :Springer Nature Switzerland :2023.
Description:	xxxi, 140 p. :ill., digital ;24 cm.
Contained By:	Springer Nature eBook
Subject:	Economic history21st century.
Online resource:	https://doi.org/10.1007/978-3-031-31441-4
ISBN:	9783031314414$q(electronic bk.)

The great economic slowdownhow narrowed technical progress brought static wages, sky-high wealth, and much discontent /
Phelps, Edmund S.

The great economic slowdownhow narrowed technical progress brought static wages, sky-high wealth, and much discontent /[electronic resource] :by Edmund Phelps, Hian Teck Hoon, Gylfi Zoega. - Cham :Springer Nature Switzerland :2023. - xxxi, 140 p. :ill., digital ;24 cm.

1. Introduction -- 2. The slowdown and real interest rates -- 3. The slowdown and asset prices -- 4. The slowdown and the share of profits -- 5. The slowdown in the data -- 6. Losing ground to China and other countries -- 7. The pandemic and its aftermath -- 8. Growth to the Rescue.

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 impacts 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. Edmund Phelps, the 2006 Nobel Laureate in Economics, is McVickar Professor Emeritus of Political Economy and founding Director of the Center on Capitalism and Society at Columbia University. He is author of Rewarding Work, Mass Flourishing, and My Journeys in Economic Theory. Hian Teck Hoon is Professor of Economics at the Singapore Management University. He specialises in macroeconomics, international trade, and economic growth. Gylfi Zoega is Professor of Economics at the University of Iceland and (part-time) at Birkbeck College, London. His research is focused on saving, financial stability, and economic growth.

ISBN: 9783031314414$q(electronic bk.)

Standard No.: 10.1007/978-3-031-31441-4doiSubjects--Topical Terms:

230514
Economic history
--21st century.

LC Class. No.: HC59.3 / .P44 2023

Dewey Class. No.: 330.9

The great economic slowdownhow narrowed technical progress brought static wages, sky-high wealth, and much discontent /
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