Countering America’s Demographic Headwind

TREND #2 On a number of occasions Trends has cited various issues raised in The Rise and Fall of American Growth a thought-provoking 2016 book by Northwestern University economist Robert Gordon. We’ve generally characterized it as a work of “technological pessimism.” But Gordon argues that it should not be seen that way. In his view, technological progress and innovation which are eventually reflected in productivity growth, aren’t going to slow. In fact it will pretty much continue as it has for decades. However, unlike the Trends editors or the experts at Future Economics, Gordon sees no acceleration back to the booming productivity pace of 1920 to 1970 in spite of advances in AI, robots or medical miracles. In his world,...

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