The Great Economic Slowdown: How Narrowed Technical Progress Brought Static Wages, Sky-High Wealth, and Much Discontent

This book explores the fall of productivity growth and the rise of inequality in global economies and societies, examining the impact of lower interest rates, stock market lifting, and wealth distribution. It also highlights the economic impact of COVID-19 and the need for macro and microeconomic innovations to create a revival in productivity growth.

Format: Hardback
Length: 140 pages
Publication date: 26 August 2023
Publisher: Springer International Publishing AG

This comprehensive book delves into the profound shift that has taken place in global economies and societies, marked by a decline in productivity growth and the escalating inequality that has emerged. Through a series of economic models, the author explores the impact of falling rates of productivity growth, particularly in the United States, on various factors such as interest rates, stock market performance, and the unequal distribution of wealth. The book also contextualizes the economic impact of COVID-19, including the increased trend of working from home and the renewed public debt pressures, within the broader issues of wage suppression and discontent within the labor force. Moreover, it examines the rise of China and the geopolitical tensions it has created, shedding light on the complex dynamics shaping the global economic landscape.

The book offers valuable insights into the macro and microeconomic innovations that can potentially drive a revival in productivity growth in the coming years. It is a valuable resource for students and researchers interested in global economic trends and the political economy, providing a comprehensive analysis of the challenges and opportunities facing the world today.

Weight: 362g
Dimension: 210 x 148 (mm)
ISBN-13: 9783031314407
Edition number: 1st ed. 2023