Volume 46, Number 14 · September 23, 1999
How New Is the New Economy?
By Jeff Madrick
Books and research papers discussed in this article
Turbulence in the World Economy
by Robert Brenner
Verso, 256 pp., $25.00 (to be published in November 1999)
Myths of Rich & Poor: Why We're Better Off Than We Think
by W. Michael Cox, by Richard Alm
Basic, 256 pp., $25.00
"Foundations of the Goldilocks Economy: Supply Shocks and the Time-Varying Nairu"
by Robert J. Gordon
Brookings Papers on Economic Activity, 2: 1998
"The High Pressure U.S. Labor Market of the 1990s"
by Alan Kreuger, by Lawrence Katz
Brookings Papers on Economic Activity (forthcoming)
The New Dollars and Dreams: Americans Incomes and Economic Change
by Frank Levy
Russell Sage Foundation, 248 pp., $16.95 (paper)
"Computers and Aggregate Economic Growth"
by Daniel E. Siche
Business Economics, April 1999, Vol. 34, No. 2
"Economic Statistics, the New Economy, and the Productivity Slowdown"
by Jack E. Triplett
Business Economics, April 1999, Vol. 34, No. 2
The Emerging Digital Economy
by Department of Commerce
The rapid economic growth of the past few years has surprised even the most optimistic forecasters, and it has made a significant difference to Americans' sense of themselves. The volume of goods and services the economy produces, the Gross Domestic Product (GDP), has grown at an annual rate of nearly 4 percent, discounted for inflation, since 1996. Few economists projected rates of growth as high as 3 percent a year. Only a few years ago, experts said that labor productivity, the output of the economy per hour of work and the source of a nation's rising standard of living, was barely growing. But it has grown by more than 2 percent a year on average since then, and grew by an annual rate of 3 percent in the nine months ended in June.
Review, 6987 words
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