37th Annual Student Research Conference
Eyes, Shoulders, Knees, and Toes: Rebutting Robert Gordon's "The Rise and Fall of American Growth"
Lauren H. Frazier
Dr. David Gillette, Faculty Mentor
Robert Gordon's The Rise and Fall of American Growth proposes that progress in the American standard of living has become stagnant since the mid-twentieth century. Gordon sees the "Great Inventions" between the Industrial Revolution and World War II as pivotal to American growth. Although his prescriptions for improving the modern economy hold merit, his ignores the work of macroeconomist Paul Romer in his assessment. Romer's endogenous growth theory holds that, because new ideas are nonrivalrous, we experience a compounding growth effect from their entry into the market. We argue that Romer's model is a better way to explain growth in the modern American standard of living.
Keywords: macroeconomics, Paul Romer, Robert Gordon, endogenous growth, economic history
Topic(s):Economics
Presentation Type: Oral Presentation
Session: 407-1
Location: MG 1098
Time: 2:00