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As the United States continues its slow climb out of the Great
Recession, it is important to focus on new directions to improve
the standard of living in America. This book explores what is
behind a faltering standard of living in the United States since
the early 1980s and what can be done to restore it. The book is
uniquely valuable in going beyond mainstream thinking about how to
restore prosperity. Economics has traditionally equated economic
growth (increases in per capita income) with improvements in
quality of life and the standard of living. This book questions
that assumption. The different chapters in the book show the
standard of living as being more than income, to include many
non-market aspects such as access to public goods (roads, clean air
and water, schools, parks, and museums), intangible aspects of
quality of life such as equity and a sense of community, and
broadly based economic opportunities. This means that improving the
standard of living is a multi-dimensional challenge rather than one
of solely increasing aggregate demand, productivity, or GDP. This
book embodies a pluralistic approach and draws on the expertise of
a wide array of thinkers. The intended audience is for various
courses offered in economics, sociology, political science, public
policy programs, and in environmental and ecological studies.
As the United States continues its slow climb out of the Great
Recession, it is important to focus on new directions to improve
the standard of living in America. This book explores what is
behind a faltering standard of living in the United States since
the early 1980s and what can be done to restore it. The book is
uniquely valuable in going beyond mainstream thinking about how to
restore prosperity. Economics has traditionally equated economic
growth (increases in per capita income) with improvements in
quality of life and the standard of living. This book questions
that assumption. The different chapters in the book show the
standard of living as being more than income, to include many
non-market aspects such as access to public goods (roads, clean air
and water, schools, parks, and museums), intangible aspects of
quality of life such as equity and a sense of community, and
broadly based economic opportunities. This means that improving the
standard of living is a multi-dimensional challenge rather than one
of solely increasing aggregate demand, productivity, or GDP. This
book embodies a pluralistic approach and draws on the expertise of
a wide array of thinkers. The intended audience is for various
courses offered in economics, sociology, political science, public
policy programs, and in environmental and ecological studies.
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