Robert J. Gordon (1) (1940–)

Wow. This is an amazing work! Don't let anyone tell you that economics cannot be interesting. I especially recommend it to my historian friends who want economical-social survey from the end of the Civil War to the current day. Gordon argues that 1870-1970 was the period of American growth. Its really 1900-1940 that is the most significant time frame as radical improvements are made to food, health care, living conditions, sanitation, transportation, etc. He argues that GDP is terrible metric. For example, it does not include a longer lifespan. Also, it did not measure automobiles until the early 1930s, long after Henry Ford's Model T was rolling off the assembly line. Gordon factors these into at the creation of a real GDP, and includes items like labor saving devices, medicine, food (processed food in the late 19th and early 20th century was a tremendous positive), sanitation, etc. He is deeply alarmed by the changes that have taken place since 1970, especially the great disparity in wealth distribution. There are thousands of impressive facts, arguments, and references in this book. Too many to list in a short review, but it is certainly an eye-opener.… (plus d'informations)

An interesting, well-written book. The author was able to really bring to life the different time periods he discusses. But, it could have been so much shorter -- lots of repetition.

Robert Gordon argues that the new technologies in information and communications don't pack the same economic punch as the industrial revolution and the wide-spread availability of electricity and the internal combustion engine. For this reason, he is pessimistic about the prospect for maintaining past rates of economic growth. But, does he really understand the full economic impact of such a broad range of technologies and how they will change the nature of work. He also remains solely focused on the U.S.A., ignoring the global context of growth in other countries (like China and India) and what impact that might have in North America. So, maybe he's too pessimistic about the future?

What concerns me the most is the implications for public policy. This book asks an important question: Is the disappointing rate of growth in the US since the financial crisis a temporary effect that will be cured by technology, or is it a long run situation to which we will have to adjust, politically as well as economically? Professor Robert Gordon argues that the problem is long term. And that's a hard message for any politician to give. So, how can our policies reflect the new reality if we can't admit to what that reality is? Maybe his pessimism is warranted after all.

Whether you are optimistic or pessimistic about the way technology will continue to change our economic lives, this book provides a truly extraordinary economic history and plenty of food for thought about what it means for the future.… (plus d'informations)