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Growing Prosperity Striving for Growth With Equity in the Twenty-First Century

by Barry Bluestone

  • ISBN: 9780395822869
  • ISBN10: 0395822866

Growing Prosperity Striving for Growth With Equity in the Twenty-First Century

by Barry Bluestone

  • List Price: $25.00
  • Binding: Hardcover
  • Publisher: Houghton Mifflin
  • Publish date: 01/01/2000
  • ISBN: 9780395822869
  • ISBN10: 0395822866
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Description: The sudden drop in America's productivity rates in the early 1970s has bedeviled a generation of eminent economists.Looking at economic trends stretching, back into the nineteenth century, Bluestone and Harrison offer an elegant solution to this long-standing mystery that has dramatic consequences for today's economy. The first to document how revolutionary new technologies -- whether the steam engine or the cotton gin have increased productivity only after a considerable time lag, the authors then demonstrate how this has been especially true of computer and information technologies. Indeed, only after two decades of learning to integrate these technologies in our economy have we begun to see productivity rates reminiscent of our postwar glory days.

This analysis flies in the face of the ruling economic orthodoxy, which post that controlling inflation and permitting the free flow of finance capital are the sine qua non of sustained growth. Bluestone and Harrison not only show how this "Wall Street model" is fatally flawed in the diminished role it assigns to productivity, but reveal how resulting policies have the potential to sabotage our economy's current health. Growing Prosperity is sure to be controversial -- a beautifully argued work that goes beyond critique to envision a way to add as much as $3.2 trillion to our economy. With its provocative thesis and its clear prescriptive message, it will be of great interest to all with a stake in our economic future.

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Sewn binding. Cloth over boards. With dust jacket. 352 p. Contains: Illustrations. Century Foundation/Twentieth Century Fund Report. Audience: General/trade.
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