Among economists, business leaders, and others, the debate continues over what George Mason University’s Tyler Cowen calls “The Great Stagnation” of the U.S. economy — and what interventions might return it to growth. Cowen points to the fact that wage levels in America have plateaued. He argues more broadly that all the “low-hanging fruit” produced by some non-repeatable breakthroughs (including fundamental technological triumphs) has been plucked. Going forward, we’ll have to work harder for any gains in productivity and prosperity, and they will come slower.
Better Management Could Spur a New Era of Economic Growth
There’s more to progress than technological innovation.
May 15, 2014