Economic Stagnation - The "Great Stagnation"

The "Great Stagnation"

Productivity growth began to slow down sharply in developed countries after 1973, but there was a revival in the 1990s which still left productivity growth below the peak decades earlier in the 20th century. A recent book titled The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick and Will (Eventually) Feel better by Tyler Cowen is one of the latest of a several stagnation books written in recent decades. Turning Point by Robert Ayres and The Evolution of Progress by C. Owen Paepke were earlier books that predicted the stagnation.