Robert Gordon’s Cassandra World

Ben Miller February 28, 2014
February 28, 2014

Robert Gordon’s new paper, revising and restating his arguments from a 2012 paper, is ostensibly about slowing growth in the United States, but in fact it takes a more complicated look at the income growth for the bottom 99 percent. Unfortunately, the added complexity is built on questionable assumptions and mostly just adds layers of ambiguity and confusion. Worst, it completely misunderstands the function and role of innovation in the economy.