Economic growth and technological progress: There is no alternative

I hesitate to write about the “degrowth” or “steady state economy” movement since it is likely to cause a terminal case of eye-roll in many readers. But it seems to be a burgeoning idea in ....

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5 questions with Jonathan Gruber, Tony Mills, Margaret O’Mara, and Bret Swanson on improving public R&D policy

US federal research and development spending as a share of GDP has fallen by nearly two thirds since the mid-1960s — a trend accompanied by decades of low productivity growth. In a recent extended episode ....

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The next president needs to turn America into an Innovation Nation

Would Biden-onomics be good or bad for productivity growth? The issue is an important one. Productivity growth is the most important factor driving overall economic growth and rising living standards. Before he left office in ....

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The myth of stability: Why the economic ‘golden age’ of postwar America was not as golden as we remember

A currently unfashionable notion: A corporation should be run primarily for the benefit of its shareholder owners by maximizing its value. The most provocative distillation of the idea is Nobel laureate economist Milton Friedman’s famous ....

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1999 might have been America’s last good year — and not because of The Phantom Menace

Consider: What was America’s last good year? It’s a common Twitter question that pops up from time to time. And one common answer is the year 1999. Why not? Unemployment was low, the stock market ....

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5 questions with Jason Crawford on studying and promoting human progress

Are America’s mechanisms for funding scientific research as effective as they could be? Do those who fear the negative consequences of technological progress have a point? And have Americans grown too complacent, at the expense ....

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The pandemic again shows the value of how America’s market economy can generate technological progress and growth

The Great Pandemic isn’t over. Data scientist Youyang Gu’s machine-learning model, one of the more highly regarded coronavirus forecasts, is projecting another 20,000 or so US fatalities in September and another roughly 15,000 in October. ....

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5 questions for Ronald Bailey on how the world is improving over time

When one looks at the data, it becomes clear that the world is dramatically improving over the long term. So why are people so pessimistic about the future? Ronald Bailey recently joined the Political Economy ....

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Why global trends are a cause for optimism: My long-read Q&A with Ronald Bailey

Why are Americans so pessimistic about the future, in spite of all the good news occurring on a global scale? From a massive decline in extreme poverty to a reduction in worldwide violence, there are ....

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