Gordon lists several at the end of his book, some conventional and others less so. But if there are policies that could achieve both, it’s time to try them. Many years ago, economist Art Okun argued that we had to choose between policies that increased efficiency and those that increased equity. His postscript includes a few thoughts that deserve immediate attention in today’s economic policy debates: Whatever the causes of the distressing slowdown in the growth of productivity (the amount of stuff produced for each hour of work) and the increase in inequality, what policies might both increase productivity and decrease inequality? households (particularly 1920 to 1950) but that the years since 1970 have been disappointing and the future looks disappointing too. Standard of Living Since the Civil War,” Northwestern University economist Bob Gordon argues that the century between 18 was exceptionally good for U.S. In his new book, “The Rise and Fall of American Growth: The U.S.
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