It is a matter of common observation that inequalities have been increasing in almost every part of the world in the 1980s and 1990s, reversing the more egalitarian trends which prevailed in the early post-war period. This chapter seeks to show: 1) that some alternating phases of retrenchment...

In this report, we explore innovation as the engine of economic prosperity and argue that the greatest strength we possess is our ability to induce and embrace change, from the integration of new technologies to new peoples and cultures. Indeed, if we hope to remain an ongoing, vital player in...

As labor market analysts in the late 1980s and early 1990s documented a rising wage inequality, a series of papers argued that this development was related to rapid technological change. These papers and the large literature that followed established a basis for the virtually unanimous agreement...

Following the 1995-2000 period of more rapid output growth and lower inflation in the United States, economists have strenuously debated whether improvements in economic performance can be sustained. The recession that began in March 2001 intensified the debate, and the economic impacts of the...

During the 1990s venture capitalists transformed entrepreneurs into corporate entities, and these companies in turn have funded increased productivity that has helped to accelerate U.S. economic growth. This success has spawned an interest in tracking information about the industry. These new...

Productivity growth in the U.S. economy jumped during the second half of the 1990s, a resurgence that many analysts linked to developments in information technology (IT). However, shortly after this consensus emerged, demand for IT products fell sharply, leading to a debate about the connection...

Economists have long debated the best way to explain the sources of productivity growth. Neoclassical theory and "new growth" theory both regard investment—broadly defined to include purchases of tangible assets, human capital expenditures, and research and development efforts—as a critical...