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A blog about cognitive and behavioural economics. Building mathematical models of how psychology influences economic systems.
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A blog about cognitive and behavioural economics. Building mathematical models of how psychology influences economic systems.
The Great Stagnation and consumption-biased change
Sat, 20 Aug 2011 05:16:48 GMT
A debate has been going on within economics (and in my head) about how the economy is changing. Tyler Cowen thinks there is a "Great Stagnation": all the low-hanging technological fruit (trains, planes, automobiles) has been harvested; we've grown for the last thirty years by getting some efficiencies out of existing processes, but that has limits; and there's no new major new invention on the horizon which will transform living standards further in the coming century. Umair Haque says...
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