The great economic slowdown: How narrowed technical progress brought static wages, sky-high wealth, and much discontent

• Main Authors: PHELPS, Edmund, HOON, Hian Teck, ZOEGA, Gylfi
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2023
• Subjects: Asset prices; Decline in population growth; Economic inequality; Economic productivity; Endogenous labor force; Global economic slowdown; Global interest rates; Impact of COVID-19; Labour market; Public debt; International Economics
• Online Access: https://ink.library.smu.edu.sg/soe_research/2761
• Institution: Singapore Management University

This book charts the fall of productivity growth and the rise of inequality within global economies and societies. Set out through a series of economic models, the impact of falling rates of productivity growth, particularly in the USA, are examined in relation to lowering interest rates, the liftin...