The Rise and Fall of American Growth The U.S. Standard of Living since the Civil War
The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War by Robert J. Gordon, published by Princeton University Press in August 2017, is a revised edition comprising 784 pages. This book explores the transformation of the American standard of living following the Civil War, highlighting significant innovations such as electric lighting, indoor plumbing, and air travel that reshaped both households and workplaces. Gordon presents a critical analysis of the economic growth experienced during this period and questions the sustainability of such growth in the future.
Readers will find a detailed examination of the factors that contributed to America’s unprecedented economic expansion and the challenges that now threaten it. The narrative combines historical anecdotes with economic analysis, addressing issues such as rising inequality, stagnating education, and an aging population. Gordon argues that the remarkable innovations of the past cannot be replicated and emphasizes the need for new solutions to navigate the complexities of contemporary economic conditions. This edition provides a comprehensive look at the evolution of American economic history and its implications for future development.
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How America’s high standard of living came to be and why future growth is under threat
In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation’s productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.
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