The Way It Worked and Why It Won't (Paperback)

Gordon C. Bjork

ISBN 10: 0275965325 / ISBN 13: 9780275965327

Published by Bloomsbury Publishing Plc, Westport, 1999

About this Item

Paperback. 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 our UK warehouse or from our Australian or US warehouses, depending on stock availability.

Seller Inventory # 9780275965327

Bibliographic Details

• Title: The Way It Worked and Why It Won't (Paperback)
• Publisher: Bloomsbury Publishing Plc, Westport
• Publication Date: 1999
• Language: English
• ISBN 10: 0275965325
• ISBN 13: 9780275965327
• Binding: Paperback
• Condition: new

About this title

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.

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.