Summary: Economists get excited about aggregate GDP (today's hot economic news dot). People -- you, me, our neighbors -- care about per capita GDP. GDP that grows along with the population does nothing for our standard of living, (and less than nothing if the 1% cream off most of it). It is important to us, … Continue reading The secret but vital to know number in today’s economic news
Summary: Last week's post looked at China's rapidly slowing economy, bad news for the world economy. This post looks at the other half of the global power twins: America, and its long-term growth. Continued 2% growth in real GDP might keep us a superpower. Less than 1%, as eminent economist Robert Gordon expects, will not. … Continue reading Will American remain a superpower? This graph has the answer.
Summary: We can understand our potential future only by comparison with our pasts. On the cusp of the Third Industrial Revolution, we can look to the Second for insights as to what lies ahead. First we look at the grim facts of our current slow growth, then at how the Second IR reshaped America. The … Continue reading A look at the wonders coming from the Third Industrial Revolution
Summary: The future of economic growth has become a hot topic. Here's a brief look at two of the contrasting visions for our future. Read about both visions and decide for yourself! Contents Introduction Slow growth ahead -- or even no growth Accelerating growth leading to the singularity For more information: the two theories about … Continue reading Has America grown old, and can no longer grow? Or are wonders like the singularity in our future?