The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War is an expansive and meticulous exploration of American growth and prosperity since the Civil War. Published in 2016, this book is an in-depth examination of the American economy, analyzing the seismic shifts that have allowed it to remain a world leader. Written by economist Robert J. Gordon, the narrative provides a thorough and unique perspective on the impacts of technology, political decisions, and innovation that have shaped the development of both the American economy and the national standard of living.The comprehensive research and informative figures within the text provide an insightful look into the economic landscape of the United States since the Reconstruction era. In particular, Gordon's analysis of the "special century" between 1870 and 1970 is extremely insightful, demonstrating the importance of developments in electricity, public health, communication, government, and education in driving the American economy. Throughout this period, the country witnessed an unprecedented rise in the quality of life, with real wages increasing, cities growing, and technology laying the groundwork for future innovation.Yet Gordon is quick to observe that this era of exceptional growth has been succeeded by a period of stagnant economic and technological progress in the last four decades. This stagnation has coincided with a decrease in real wages, inequality, and overall quality of life. The book offers both a sobering and optimistic message, recognizing the potential of the past while acknowledging the difficulties of revitalizing the American growth story. Despite the stagnation, Gordon ultimately offers hope that a new age of growth is possible if the right decisions are made. The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War is a must-read for anyone keen to understand the profound influence of the economy on American life and culture.
Add missing EndorsementI did find his historical analysis, which makes up the bulk of the book, utterly fascinating.
Robert Gordon has written the book on wealth--how Americans made it and enjoyed it in the past. If we're going to create more wealth in the future instead of arguing about dividing a shrinking pie, we have to read and understand this book.
The Rise and Fall of American Growth is a tour de force with an immensely important bottom line. It is packed, page after page, with insights and facts that every reader will find fascinating and new. A profound book that also happens to be a marvelous read.
I flagged a few books that I thought were particularly great in green.
The story of our standard of living is a vital part of American history and is well told in this fascinating book. Gordon provides colorful details and striking statistics about how the way we live has changed, and he asks whether we will live happily ever after. His answer will surprise you and challenge conventional assumptions about the future of economic growth. This book is a landmark--there is nothing else like it.
Covering everything from the combustion engine to the flush toilet—and judging recent breakthroughs with a skeptical eye—this work of economic history “concludes that innovation is the ultimate source of dramatic improvements in the human condition,” says Nadella.
Brad Feld (Co-Founder/Foundry Group) The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War: This book was a grind, but it had a lot of good stuff in it. It’s only 784 pages so it took more than a day to read it. If you are trying to understand what is going on in the current American economy, and why the future will not look like the past, this is a good place to start.
This book is as important as it is unsettling. Gordon makes a compelling case that the golden age of growth is over. Anyone concerned with our economic future needs to carefully consider his argument.