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Martin Feldstein: Will Americans become poorer?

True rise in US real incomes was actually faster than official statistics imply

Martin Feldstein

Robert Gordon of Northwestern University has launched a lively and important debate about the future rate of economic growth in the United States. Although his book The Rise and Fall of American Growth will not be published until January 2016, his thesis has already garnered coverage in the Economist and Foreign Affairs. Clearly, Mr Gordon's gloomy assessment of America's growth prospects deserves to be taken seriously. But is it right? Mr Gordon argues that the major technological changes that raised the standard of living in the past are much more important than anything that can ...