Growth with Equity

Martin Neil Baily; Gary Burtless; Robert E. Litan

doi:10.5771/9780815716310

Summary

For nearly two decades the U.S. economy has been plagued by two disturbing economic trends: the slowdown in the growth rates of productivity and average real wages and the increase in wage and income inequality. The federal budget is in chronic deficit. Imports have far exceeded exports for more than a decade. American competitiveness has been a source of concern for even longer. Many Americans worry that foreigners are buying up U.S. companies, that the economy is losing its manufacturing base, and that the gap between rich and poor is widening. In this book three of the nation's most noted economists look at the primary reasons for these trends and assess which of the many suggestions for change in policywhether for increased tax incentives for investment, education reform, or accelerated research and developmentare likely to work and which may not work and could even hinder economic development. The author's discuss a variety of issues connected with deindustrialization and diminished competitiveness, distinguishing between problems that would be of real concern and those that should not. They evaluate explanations for slow growth in aggregate productivity in the United States and its relation to slower growth in other industrialized countries. They discuss the performance of the various sectors of the U.S. economy and systematically examine the evidence for and against the major proposals for correcting the adverse trends in productivity and inequity. Growth With Equity clearly explains how the country can accomplish the challenge of accelerating growth and narrowing the gap that separates the rich from the poor. While recognizing that some of their recommendations may be politically painful, the authors stress the importance of adopting a purposeful, long-range policy to encourage growth, ensure equity, and reduce the government's equity.

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Bibliographic data

Copyright year: 2010
ISBN-Print: 978-0-8157-0765-3
ISBN-Online: 978-0-8157-1631-0
Publisher: Rowman & Littlefield, Lanham
Language: English
Pages: 239
Product type: Book Titles

1. Contents No access
1. Growth and Equity: Compatible Objectives No access
2. A Framework for Enhancing Growth and Equity No access
3. A Preview of Our Recommendations No access
1. The Slowdown of Productivity Growth No access
2. Why Is Productivity Growth Important? No access
3. Sources of Productivity Growth No access
4. Subsidiary Problems No access
5. Conclusion No access
1. Earnings Inequality No access
2. Family Income Inequality No access
3. Implications No access
1. Sustaining American Strength in Basic Research No access
2. Lengthening Time Horizons No access
3. Liability Reform No access
4. Encouraging Joint Ventures No access
5. Should America Adopt an Industrial Policy? No access
6. Conclusion No access
1. Work Force Preparation No access
2. Remedies No access
3. Improvements in Labor Market Institutions No access
1. Encouraging Investment No access
2. Encouraging Investment with High Social Returns No access
3. Summary No access
1. Promoting Productivity through Freer Trade No access
2. Promoting Productivity through Foreign Direct Investment No access
3. New Strategies for Gaining Access to Foreign Markets No access
4. Helping Displaced Workers No access
8. An Agenda for Growth and Equity No access Pages 198 - 207
Appendix: Research from the Center for Economic Progress and Employment No access Pages 208 - 210
Notes No access Pages 211 - 232
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