The Way It Worked and Why It Won't: Structural Change and the Slowdown of U.S. Economic Growth - Hardcover
Synopsis
While the decline of U.S. economic growth has been widely recognized and debated by professional economists, no one has until now offered a comprehensive description and explanation. Professor Bjork does so, and he explains the growth slowdown as a natural consequence of economic maturity.
In addition, Bjork explains how productivity growth occurs within industries and the economy as a whole and how accounting conventions fail to account for growth in expanding sectors of the economy such as services and government. He quantifies the effects of structural change in slowing the rate of growth, and he demonstrates why taxes and transfer payments for the education of the young and the maintenance and health care of the retired population necessarily increase with economic growth and maturity. This is an important synthesis for professional economists and policy makers as well as students and the concerned public.
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About the Author
GORDON C. BJORK is Jonathon B. Lovelace Professor of Economics, Claremont McKenna College and the Peter F. Drucker School of Management, The Claremont Graduate School./e A former college president as well as consultant for various corporations and banking associations, Professor Bjork is the author of three earlier books on macroeconomic issues.
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Way It Worked and Why It Won't, The (Hardcover)
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Bloomsbury Publishing Plc, Westport, 1999
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ISBN 13: 9780275965310
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Hardcover. Condition: new. Hardcover. While the decline of U.S. economic growth has been widely recognized and debated by professional economists, no one has until now offered a comprehensive description and explanation. Professor Bjork does so, and he explains the growth slowdown as a natural consequence of economic maturity.In addition, Bjork explains how productivity growth occurs within industries and the economy as a whole and how accounting conventions fail to account for growth in expanding sectors of the economy such as services and government. He quantifies the effects of structural change in slowing the rate of growth, and he demonstrates why taxes and transfer payments for the education of the young and the maintenance and health care of the retired population necessarily increase with economic growth and maturity. This is an important synthesis for professional economists and policy makers as well as students and the concerned public. Explains the U.S. growth slowdown as a natural consequence of economic maturity. This item is printed on demand. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780275965310
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The Way It Worked and Why It Won't: Structural Change and the Slowdown of U.S. Economic Growth
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Condition: New. A comprehensive description and explanation of the decline of economic growth in the USA. The author argues that this is a natural consequence of economic maturity, but also points out that productivity is still growing within industries and the US economy as a whole. Num Pages: 320 pages, black & white illustrations. BIC Classification: 1KBB; KCB; KCP. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 229 x 152 x 22. Weight in Grams: 603. . 1999. hardcover. . . . . Seller Inventory # V9780275965310
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