TY - JOUR
T1 - Secular stagnation? Not in your life
AU - Mokyr, Joel
N1 - Publisher Copyright:
© CEPR Press, 2014.
PY - 2014
Y1 - 2014
N2 - In the aftermath of the Great Recession, many economists are persuaded that slow growth is here to stay. This chapter argues that technological progress – particularly in areas such as computing, materials, and genetic engineering – will prove the pessimists wrong. The indirect effects of science on productivity through the tools it provides scientific research may dwarf the direct effects in the long run. Although technological advances may polarise labour markets, they also bring widespread benefits that are not accurately reflected in aggregate statistics.
AB - In the aftermath of the Great Recession, many economists are persuaded that slow growth is here to stay. This chapter argues that technological progress – particularly in areas such as computing, materials, and genetic engineering – will prove the pessimists wrong. The indirect effects of science on productivity through the tools it provides scientific research may dwarf the direct effects in the long run. Although technological advances may polarise labour markets, they also bring widespread benefits that are not accurately reflected in aggregate statistics.
UR - http://www.scopus.com/inward/record.url?scp=84946178239&partnerID=8YFLogxK
M3 - ???researchoutput.researchoutputtypes.contributiontojournal.article???
AN - SCOPUS:84946178239
SN - 1607-8616
SP - 83
EP - 89
JO - Geneva Reports on the World Economy
JF - Geneva Reports on the World Economy
IS - August 2014
ER -