This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue,...

Machine generated contents note: 1. The new world order Dale W. Jorgenson; 2. US Economic Growth - retrospect and prospect: lessons from a prototype industry-level production account for the United States, 1947-2012 Dale W. Jorgenson, Mun S. Ho and Jon D. Samuels; 3. The structural causes of...

The balance of the world economy is shifting away from the established economies of Europe, Japan, and the USA, towards the emerging economies of Asia, especially India and China. With contributions from some of the world's leading growth theorists, this book analyses the long-term process of...

Contents -- Preface -- Chapter 1. The Great Depression and the Rise of Protectionism -- The Gold Standard and the Great Depression -- Moving toward Protectionism: The Smoot- Hawley Tariff -- Things Fall Apart-1931 -- Trade Policy Reaction -- The Open Economy Trilemma -- Conclusion -- Chapter 2....