Description: Although economic growth has historically been an engine of prosperity in the United States, recent trends have generated uncertainty regarding the prospects for sustaining such growth. Economists disagree about the relative importance of many factors affecting future growth, including rapid technological advances, immigration, the growth of the financial sector, problems with the educational system, increasing income inequality, an aging population, and large fiscal imbalances that have not been addressed by the political system. This collection of chapters, authored by many of today's leading economists, addresses the prospects for economic growth in the United States over the next few decades. During a time of great economic uncertainty, this book engages with both sides in the debate over economic growth, focusing on policy options that increase the prospects for vigorous economic growth in the future.
Brief description: John W. Diamond is the Director at the Center for Public Finance, and the Edward A. and Hermena Hancock Kelly Fellow in Public Finance at Rice University's Baker Institute.
Review Quotes: 'What are the prospects for economic growth, and what can government policies do to enhance them? In a wide-ranging study with contributions by an array of leading economists, Diamond and Zodrow provide a comprehensive peek into the future of the US economy, giving us insight into the nature of technological progress and the role that tax, regulatory, immigration, environmental, and education policies play in shaping and harnessing growth to generate broadly shared improvements in living standards.' Alan J. Auerbach, University of California, Berkeley