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2 results

  • 1 - Introduction

  • from Part I - Overview
  • Edited by John W. Diamond, Rice University, Houston, George R. Zodrow, Rice University, Houston
  • Book:
    Prospects for Economic Growth in the United States
    Published online:
    21 October 2021
    Print publication:
    04 November 2021, pp 3-21

  • Summary

    This introduction summarizes the nine central chapters that make up this volume. Martin Feldstein examines the structural reasons for relatively high US growth rates, notes fiscal problems inhibiting future growth including in deficits in social insurance programs, and suggests reforms. Flávio Cunha examines how the development of human capital, especially at early ages, affects economic growth. George Borjas analyzes how increased immigration would affect economic growth in the United States. Glenn Hubbard explores the debate between “techno-optimists” and “techno-pessimists” on the growth effects of technological progress, while Timothy Bresnahan examines in detail the commercial applications of Artificial Intelligence Technologies (AITs). Robert Barro estimates the macroeconomic effects of the recently enacted Tax Cuts and Jobs Act, while John Diamond and George Zodrow examine the macroeconomic and distributional effects of a carbon tax. Ross Levine discusses the links between banking and economic prosperity, and Stephen Turnovsky examines the relationships among income, wealth inequality, and economic growth.

Prospects for Economic Growth in the United States
  • Edited by John W. Diamond, George R. Zodrow
  • Published online:
    21 October 2021
    Print publication:
    04 November 2021
  • Although economic growth has historically been an engine of prosperity in the United States, recent trends have generated uncertainty regarding the prospects for sustaining such growth. Economists disagree about the relative importance of many factors affecting future growth, including rapid technological advances, immigration, the growth of the financial sector, problems with the educational system, increasing income inequality, an aging population, and large fiscal imbalances that have not been addressed by the political system. This collection of chapters, authored by many of today's leading economists, addresses the prospects for economic growth in the United States over the next few decades. During a time of great economic uncertainty, this book engages with both sides in the debate over economic growth, focusing on policy options that increase the prospects for vigorous economic growth in the future.