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About: The Great Stagnation     Goto   Sponge   NotDistinct   Permalink

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Type: Thingbibo:Bookschema:Bookschema:CreativeWorkworkText (literary theory)wikidata:Q386724Bookyago:Artifact100021939yago:Book106410904yago:Creation103129123yago:Object100002684yago:PhysicalEntity100001930yago:Product104007894yago:Publication106589574yago:Work104599396bookwritten workyago:Whole100003553yago:Wikicat2011Booksyago:WikicatEconomicsBooks New Facet based on Instances of this Class

The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better is a pamphlet by Tyler Cowen published in 2011. It argues that the American economy has reached a historical technological plateau and the factors that drove economic growth for most of America's history are no longer present. These figurative "low-hanging fruit" include the cultivation of much free, previously unused land, technological breakthroughs in transport, refrigeration, electricity, mass communications, sanitation, and the growth of education. Cowen, a professor of economics at George Mason University, theorizes that these factors have contributed to stagnation in the median American wage since 1973.