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Productivity: Postwar U.S. Economic Growth

Dale W. Jorgenson

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ISBN 10: 0262512890 / ISBN 13: 9780262512893
Published by Mit Press
New Condition: New Paperback
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Paperback. 468 pages. Dimensions: 9.1in. x 6.0in. x 1.2in.These two volumes present empirical studies that have permanently altered professional debates over investment and productivity as sources of postwar economic growth in industrialized countries. The distinctive feature of investment is that returns can be internalized by the investor. The most straightforward application of this idea is to investments that create property rights, but these volumes broaden the meaning of capital formation to include investments in education and training. Postwar US Economic Growth traces the outstanding postwar performance of the US economy to investments in tangible assets and human capital. This volume provides the starting point for a new consensus on policies to generate growth by stimulating and rewarding investments. These policies will focus on returns that can be internalized by investors, ending the fruitless search for spill overs that can generate substantial growth without providing incentives for capital formation. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Bookseller Inventory # 9780262512893

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Bibliographic Details

Title: Productivity: Postwar U.S. Economic Growth

Publisher: Mit Press

Binding: Paperback

Book Condition:New

Book Type: Paperback

About this title

Synopsis:

These two volumes present empirical studies that have permanently altered professional debates over investment and productivity as sources of postwar economic growth in industrialized countries. The distinctive feature of investment is that returns can be internalized by the investor. The most straightforward application of this idea is to investments that create property rights, but these volumes broaden the meaning of capital formation to include investments in education and training.Postwar US Economic Growth traces the outstanding postwar performance of the US economy to investments in tangible assets and human capital. This volume provides the starting point for a new consensus on policies to generate growth by stimulating and rewarding investments. These policies will focus on returns that can be internalized by investors, ending the fruitless search for "spill overs" that can generate substantial growth without providing incentives for capital formation.

About the Author:

Dale W. Jorgenson is Samuel W. Morris University Professor of Economics at Harvard University.

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