LEADER 03811nam 22006015 450 001 9910743680903321 005 20231106193351.0 010 $a3-031-31441-7 024 7 $a10.1007/978-3-031-31441-4 035 $a(MiAaPQ)EBC30726174 035 $a(CKB)28131410900041 035 $a(Au-PeEL)EBL30726174 035 $a(DE-He213)978-3-031-31441-4 035 $a(EXLCZ)9928131410900041 100 $a20230831d2023 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe great economic slowdown $ehow narrowed technical progress brought static wages, sky-high wealth, and much discontent /$fby Edmund Phelps, Hian Teck Hoon, Gylfi Zoega 205 $a1st ed. 2023. 210 1$aCham :$cSpringer Nature Switzerland :$cImprint: Palgrave Macmillan,$d2023. 215 $a1 online resource (160 pages) 311 $a9783031314407 327 $a1. Introduction -- 2. The slowdown and real interest rates -- 3. The slowdown and asset prices -- 4. The slowdown and the share of profits -- 5. The slowdown in the data -- 6. Losing ground to China and other countries -- 7. The pandemic and its aftermath -- 8. Growth to the Rescue. 330 $aThis book charts the fall of productivity growth and the rise of inequality within global economies and societies. Set out through a series of economic models, the impacts of falling rates of productivity growth, 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. Edmund Phelps, the 2006 Nobel Laureate in Economics, is McVickar Professor Emeritus of Political Economy and founding Director of the Center on Capitalism and Society at Columbia University. He is author of Rewarding Work, Mass Flourishing, and My Journeys in Economic Theory. Hian Teck Hoon is Professor of Economics at the Singapore Management University. He specialises in macroeconomics, international trade, and economic growth. Gylfi Zoega is Professor of Economics at the University of Iceland and (part-time) at Birkbeck College, London. His research is focused on saving, financial stability, and economic growth. . 606 $aInternational economic relations 606 $aEconomics 606 $aInternational economic integration 606 $aGlobalization 606 $aInternational Economics 606 $aPolitical Economy and Economic Systems 606 $aEconomic Aspects of Globalization 615 0$aInternational economic relations. 615 0$aEconomics. 615 0$aInternational economic integration. 615 0$aGlobalization. 615 14$aInternational Economics. 615 24$aPolitical Economy and Economic Systems. 615 24$aEconomic Aspects of Globalization. 676 $a337 676 $a330.9 700 $aPhelps$b Edmund$01176536 701 $aHoon$b Hian Teck$0614065 701 $aZoega$b Gylfi$01427071 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910743680903321 996 $aThe Great Economic Slowdown$93559852 997 $aUNINA