“The reason the growth in the standard of living has been understated is that the Consumer Price Index (CPI) recorded price changes for each type of merchant separately and did not compare prices between types of merchants. Thus if the… — Robert J. Gordon Copy Share Image
“Unlike IR #2, the digital revolution IR #3 had a less powerful overall effect on productivity growth, and the main effect of its inventions occurred in the relatively short interval of 1996 to 2004, when the invention of the Internet,… — Robert J. Gordon Copy Share Image
“Although advertising began in the late nineteenth century with the development of the first branded products, its true explosion came in the 1920s, when… — Robert J. Gordon Copy Share Image
“both the Great Depression and World War II directly contributed to the Great Leap.” — Robert J. Gordon Copy Share Image
“Modern humans first emerged about 100,000 years ago. For the next 99,800 years or so, nothing happened. Well, not quite nothing. There were wars,… — Robert J. Gordon Copy Share Image
“Progress after 1970 continued but focused more narrowly on entertainment, communication, and information technology, in which areas progress did not arrive with a great… — Robert J. Gordon Copy Share Image
“If the stock market continues to advance, we know that inequality will increase, for capital gains on equities accrue disproportionately to the top income… — Robert J. Gordon Copy Share Image
“Compared to Canada, Japan, or any nation in western Europe, the United States combines by far the most expensive system with the shortest life… — Robert J. Gordon Copy Share Image
“The post-2020 fiscal reckoning does not require higher payroll taxes or lower retirement benefits, as new sources of fiscal revenue are available from drug… — Robert J. Gordon Copy Share Image
“Electric light, the first reliable internal combustion engine, and wireless transmission were all invented within the same three-month period at the end of 1879. Within” — Robert J. Gordon Copy Share Image
“The economic revolution of 1870 to 1970 was unique in human history, unrepeatable because so many of its achievements could happen only once.” — Robert J. Gordon Copy Share Image
“Morris Kleiner has calculated that the percentage of jobs subject to occupational licensing has expanded from 10 percent in 1970 to 30 percent in 2008.” — Robert J. Gordon Copy Share Image
There are four headwinds that are just hitting the American economy in the face: They're demographics, education, debt and inequality. They're powerful enough to… — Robert J. Gordon Copy Share Image
“The inexorable rise of inequality can be countered at the top by higher taxes on the highest earners who have captured so much more… — Robert J. Gordon Copy Share Image
