There’s been a burst of activity attending this paper from Robert Gordon at the NBER on slowing economic growth in the United States, produced by four factors: demographics, educational attainment, income inequality, and debt. Tyler Cowen is largely in accord with the conclusions:
I agree with a great deal of this paper, to say the least, especially when it is compared to previous mainstream opinion on these topics. My favorite parts are his discussions of how multi-faceted were the waves of earlier progress starting in the 19th century, compared to some of the more recent and weaker tech revolutions. That said, in some key ways this piece falls short of meeting the standards of reasoned argumentation.
I only have one remark and it’s tangential: the more you know about technology the less threatening you recognize it is.
One more thing: I think we have slowing growth because the policies put into place over the last two to four decades produce slower growth.