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Summary of The Rise and Fall of American Growth

Summary of The Rise and Fall of American Growth by Robert J. Gordon | Includes Analysis

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The Rise and Fall of American Growth is an analysis of American growth from 1870 to the present. It focuses especially on the unprecedented “special century” of 1870–1970.

Throughout most of human history, economic growth was basically flat or advanced very slowly. After the Civil War in the United States, however, life began to improve exponentially. This was due to a series of “Great Inventions,” including, most notably, electricity, the means of channeling and directing electricity, and the internal combustion engine. Homes became tied to systems of electricity, heat, and sewage. The last was particularly important, as cleaner water, abetted by new medicines that immunized against childhood disease, led to a dramatic drop in infant and child mortality.

The progress between 1870 and 1970 is routinely underestimated by measures of gross domestic product (GDP) because GDP does not measure the quality of life improvement by increased life expectancy…

PLEASE NOTE: This is key takeaways and analysis of the book and NOT the original book.

Inside this Instaread Summary of The Rise and Fall of American Growth

Overview of the book
Important People
Key Takeaways
Analysis of Key Takeaways

About the Author

With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.
20 printed pages
Original publication
2016

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Quotes

    David Rettig Hinojosahas quotedlast month
    Many factors have retarded growth since the 1970s. One of the most important is rising inequality. During 1917 to 1948, the gap between the wealthiest and poorest Americans decreased. Since 1970, that pattern reversed, as the top 10 percent of income earners pulled away from the bottom 90 percent. In 2013, income for the bottom 90 percent was lower than it had been in 1973, even as the income of the top 10 percent almost doubled.
    David Rettig Hinojosahas quotedlast month
    Optimists refer to this as the Singularity: the moment when AI creates a cascade of innovations, changing life on earth forever. [9]
    David Rettig Hinojosahas quotedlast month
    For example, changes in communication technology are unlikely to have large-scale effects on life expectancy.
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