Something is missing in the current discussion about economic policy to return the U.S. economy to growth. One side calls for more stimulus; the other worries about driving up the deficit. A stimulus might cure a crisis; a deficit could interfere with future monetary and fiscal policy. But even...

Our aim is to understand how the process of transformational growth during the 1990s shaped the boom and bust of the New Economy. From the debate on new technologies and productivity growth, we move on to consider the questions raised by technological developments of the 1990s. Our focus is on...