Ezra's Bookshelf

The Rise and Fall of American Growth

by Robert J. Gordon ยท 784 pages

Economist Robert Gordon argues that the remarkable economic growth experienced by the United States between 1870 and 1970 - transforming daily life through electricity, automobiles, indoor plumbing, and modern medicine - was a singular event unlikely to be repeated. The book's first half documents this 'special century' in extraordinary detail, showing how the lives of Americans changed more dramatically during this period than in any other century of human history. Gordon captures what it meant to transition from a world without reliable lighting to one with electrical appliances, from travel by horse to airplane, from death in childbirth to antibiotics. The second half examines why growth has slowed since 1970 and why it is likely to remain sluggish. Gordon identifies four 'headwinds' - demographic shifts, educational stagnation, inequality, and government debt - that will suppress future growth regardless of technological innovation. He is skeptical that digital technology will generate transformations comparable to electricity or the internal combustion engine. The book has provoked debate among economists about the future of growth, with critics arguing Gordon underestimates technology's potential. For anyone interested in economic history or the future of prosperity, Gordon provides detailed argument that demands engagement.