Tuesday, August 6, 2013

The Blip: American Economic History on a timeline [Article]

I grew up to the adage that when America sneezes, the world catches a cold. What happens in America does have an impact on the rest of the globe's denizens. Which is why I read this article with interest.  Benjamin Wallace-Wells deciphers economist Dr. Robert Gordon's two predictions for the American economy:
Perhaps it isn't that our success is a product of the way we structured our society. The shape of our society may be far more conditional, a consequence of our success. Embedded in Gordon's data is an inquiry into entitlement: How much do we owe, culturally and politically, to this singular experience of economic growth, and what will happen if it goes away?