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Tuesday, May 5, 2020 | History

2 edition of Does the "new economy" measure up to the great inventions of the past? found in the catalog.

Does the "new economy" measure up to the great inventions of the past?

Gordon, Robert J.

Does the "new economy" measure up to the great inventions of the past?

by Gordon, Robert J.

  • 255 Want to read
  • 15 Currently reading

Published by Centre for Economic Policy Research .
Written in English


Edition Notes

Includes bibliographical references.

StatementRobert J. Gordon.
SeriesDiscussion paper series -- 2607
ContributionsCentre for Economic Policy Research.
The Physical Object
Pagination64 p. :
Number of Pages64
ID Numbers
Open LibraryOL18600193M

  Masood's persuasive argument is that GDP is flawed because it does not measure a great amount of numerous contributions and weaknesses of the real economy; e.g. volunteering, housework, environmental degradation, job satisfaction, and income by: 8. However, after the happenings of the past few years that perspective has changed. While the Internet and the World Wide Web have certainly impacted the lives of many millions of people it is certainly not the greatest invention of the past millennium, in fact it might not even make the the top ten.

A recent book titled The Great Stagnation: One theory is that the boost in growth by the internet and technological advancement in computers of the new economy does not measure up to the boost caused by the great inventions of the past. An example of such a great invention is the assembly line production method of Fordism.   The New Economy and Great Inventions–will only consider with Economics background Please answer the following question using the attached article: In the posted case reading,” Robert Gordon claims that the “Information Revolution,” spawned by the computer and later the Internet, does not measure up to the great inventions of the past.

article “Does the ‘New Economy’ Measure up to the Great Inventions of the Past? Each graph must include a brief description of the economic mechanism you are presenting. The graphs must not be contained in Gordon’s paper. Graphs can include demand, supply, market. In addition, Gordon has written for economic journals, outlining the relation of the productivity growth of modern-day inventions to the great inventions of the late 19th century. He focuses on the impact of computers in the post economy on the durable manufacturing mater: Harvard University (), Oxford .


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Does the "new economy" measure up to the great inventions of the past? by Gordon, Robert J. Download PDF EPUB FB2

Does the “New Economy” Measure up to the Great Inventions of the Past. Robert J. Gordon A widespread belief seems to be emerging, at least in the popular press, that the U.S.

economy is in the throes of a fundamental transformation, one which is wiping out the –95 productivity slowdown, along with infla. Does the "New Economy" Measure up to the Great Inventions of the Past. Robert J. Gordon. NBER Working Paper No.

Issued in August NBER Program(s):Economic Fluctuations and Growth, Productivity, Innovation, and EntrepreneurshipCited by: Does the "New Economy" Measure Up to the Great Inventions of the Past.

by Robert J. Gordon. Published in vol issue 4, pages of Journal of Economic Perspectives, FallAbstract: During the four years U.S. productivity growth experienced a. Journal of Economic Perspectives-Vol Number 4-Fall Pages Does the "New Economy" Measure up to the Great Inventions of the Past.

Robert J. Gordon A widespread belief seems to be emerging, at least in the popular press, that the U.S. economy is in the throes of a fundamental transformation, one. ” The true enthusi-asts treat the New Economy as a fundamental industrial revolution as great or greater in importance than the concurrence of inventions, particularly electricity and the internal combustion engine, which transformed the world at the turn of the last century.

asts treat the New Economy as a fundamental industrial revolution as great or greater in importance than the concurrence of inventions, particularly electricityAuthor: Robert J. Gordon. The rapid decline in the cost of computer power means that the marginal utility of computer characteristics like speed and memory has fallen rapidly as well, implying that the greatest contributions of computers lie in the past, not in the future.

The Internet fails the hurdle test as a Great Invention. In assessing the importance of the New Economy and the Internet as an invention, we have applied a tough test.

To measure up, the New Economy had to equal the great inventions that constitute what has been called the Second Indus- trial Revolution. Does the "New Economy" Measure up to the Great Inventions of the Past.

This paper raises doubts about the validity of this comparison with the Great Inventions of the past. It dissects the recent productivity revival and separates the revival of percentage points (comparing with ) into of an unsustainable cyclical Author: Robert J.

Gordon. Does the “New Economy” Measure Up to the Great Inventions of the Past. Robert J. Gordon Journal of Economic Perspectives vol.

14, no. 4 (Fall )–74 The author examines whether the recent explosion in techno-logical advances, including the Internet, has truly launched another industrial revolution, as is commonly supposed.

"Does the "New Economy" Measure Up to the Great Inventions of the Past?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pagesFall. Robert J. Gordon, "Does the "New Economy" Measure Up to the Great Inventions of the Past?," Journal of Economic Perspectives, American Economic Association, vol.

14(4), pagesFall. Gordon, Robert J, Robert J. Gordon "Does the New Economy Measure Up to the Great Inventions of the Past?" Journal of Economic Perspectives, vol.

4, no. 14 (Fall ),File Size: 2MB. CFA Institute Journal Review August Volume 31 Issue 3. Does the “New Economy” Measure Up to the Great Inventions of the Past. (Digest Summary) Robert J. Gordon Journal of Economic Perspectives. Summarized by Christopher J. Sullivan. Presents a summary of the article `Does the `New Economy; Measure Up to the Great Inventions of the Past?,' by Robert Gordon, which argues that the long-term improvements in productivity and living standards in the United States (U.S.) are incremental compared to the inventions of the late 19th and early 20th century.

Does the “New Economy” Measure up to the Great Inventions of the Past. Gordon, Robert J Journal of Economic Perspectives, Volume 14 (4) – Nov 1, Does the "New Economy" Measure Up to the Great Inventions of the Past.

Robert Gordon; Working Paper No. ; National Bureau of Economic Research, Cambridge, MA; Dec. This Northwestern University economist and NBER research associate is skeptical that inventions like the computer and the Internet have brought the United States to the.

Does the "new economy" measure up to the great inventions of the past. Journal of Economic Perspectives, 14(4), Does the "new economy" measure up to the great inventions of the past. AU - Gordon, Robert J. PY - /1/1 Northwestern Scholars contact form Cited by: Add tags for "Does the "new economy" measure up to the great inventions of the past?".

Be the first. *Robert J. Gordon, “Not Much of a New Economy,” Financial Times, Jand “Does the ‘New Economy’ Measure Up to the Great Inventions of the Past?,” Journal of Economic Perspectives, vol. 14, no. 4 (Fall ), pp.

Gordon R Does the new economy measure up to the great inventions of the from BUS at Ashford University. "Does the 'new economy' measure up to the great inventions of the past?", Journal of Economic Perspectives, Vol.

14 No. 4, pp. The 17 seminal essays by Robert J. Gordon collected here, including three previously unpublished works, offer sharply etched views on the principal topics of macroeconomics namely, growth, inflation, and unemployment.

The author re-examines their salient points in a uniquely creative, accessible introduction that serves on its own as an introduction to modern macroeconomics.One theory is that the boost in growth by the internet and technological advancement in computers of the new economy does not measure up to the boost caused by the great inventions of the past.

An example of such a great invention is the assembly line production method of Fordism. The general form of the argument has been the subject of papers.