The Great Economic Slowdown - How Narrowed Technical Progress Brought Static Wages, Sky-High Wealth, and Much Discontent (1st ed. 2023)

This book charts the fall of productivity 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, particularly in the USA, are examined in relation to lowering interest rates, the lifting of the stock market, and an increasingly unequal distribution of wealth. The economic impact of COVID-19, including the increased tendency to work from home and renewed public debt pressures, are contextualised within broader issues of wage suppression and discontent within the labor force to highlight how average workers have been left behind. The rise of China and the geopolitical tensions that it has created is also discussed. This book sets out the macro and microeconomic innovations that can create a revival in productivity growth in the coming years. It will be relevant to students and researchers interested in global economic trends and the political economy.

General

Imprint:	Palgrave Macmillan
Country of origin:	Switzerland
Release date:	September 2023
First published:	2023
Authors:	Edmund S. Phelps • Hian Teck Hoon • Gylfi Zoega
Dimensions:	210 x 148mm (L x W)
Pages:	147
Edition:	1st ed. 2023
ISBN-13:	978-3-03-131440-7
Categories:	Books Promotions
LSN:	3-03-131440-9
Barcode:	9783031314407

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