Why has economic growth slowed down?

Posted by Dietrich Vollrath on January 23, 2009 · 7 mins read

Since well before the financial crisis and recession of 2009, economic growth in the U.S. (as well as many other rich countries) slowed relative to the 20th century. That slow economic growth is due in large part to slower growth in productivity, and that slower growth in productivity started even before the financial crisis. The materials here discuss how to measure productivity growth, why you should be careful in confusing productivity with “innovation” or “technology”, and what the prospects are for growth in the future.

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