Robert Gordon's The Rise And Fall Of American Growth

On September 6th, 1971, President Richard Nixon gave the “Address to the Nation on Labor Day.” In this speech, he determines that there is a change in the work environment air. Nixon claims that workers in this developmental time deserve new opportunities to grow within their work. He reached the conclusion that job satisfaction should be a company's main focus. As the work environment evolves, worker satisfaction becomes increasingly more important. Employees have expectations, such as raises, insurance, and paid time off, so if a company is not willing to comply with these new demands, then it will become increasingly difficult to generate decent productivity rates. Nixon defined this word by stating that “Productivity really means getting

The economy of the world is changing all the time. We have had our ups and downs, but with the help of insights from economist, we have been able to sustain a decent economy. In Naked Economics, Wheelan discusses how a country can have a successful economy. He discusses why countries are poor and why some other countries are doing lavish things, like buying a cake for a dog. The reason behind it is because the richer countries are more productive and allocate resources and the poorer countries aren’t as efficient and don’t allocate resources. Wheelan also wrote about how Steve Jobs and Bill Gates became as rich as they are. They made huge investments in human capital to become rich. They became rich because they had a product that people were willing to give their money for. There are many problems in different economies and Wheelan explains why they are failing. Some economies suffer from a poorly ran government and others suffer from the lack of information. Trade is a positive thing, but there are people that discourage it because products are imported from outside of the United States.

Everyone is greedy for everything and citizens and becoming lazier.

According to Hernaes (2017), technology in the United States has been growing. With the growth of technology, more “blue-collar” jobs are being replaced. Inequality is increasing because the jobs being replaced are lower wage jobs. The reason for inequality is that those in the lower class, and even the middle class are losing their jobs. Those in the upper class mostly retain their jobs because their labor requires more skilled labor. The income gap increases because the wealthy can allocate their spendings on other resources, or cheaper resources that will replace labor. The loss of these jobs would cause the poor to become poorer, and the rich become richer. The supply of labor demanded would decrease, resulting in fewer workers. The growth of technology began as a “slow train since the 1980s.” Technology has been growing “exponential[ly]” ever since (Jones, 1998).

“The Congressional Budget Office has concluded that between 1979 and 2007, the imbalance in income has more than tripled between the top 1 percent of the population and the majority” (Reich). After federal taxes and transfer payments, the income of the top 1 percent rose by 275 percent, while it rose less than 40 percent for the middle, working, and lower classes and only 18 percent for the under-class. “According to the Census Bureau, average household incomes have been declining, while the income of the wealthiest 1 percent has risen by 31 percent. Economist, Emmanuel Saez, has estimated that about 95 percent of all economic gains since the recovery of the 2008 recession have gone to the top 1 percent” (Reich).

When we think about GDP, it is important to determine the country’s output. When I say the country’s total output I mean everything produced by the people of the country, as well as all the companies within the country. Today I will be discussing to you all the recent history and expected future conditions of the American economy.

The U.S. economy is enormous productive. In 1947, the amount of goods and services we produce per hour of labor had risen by nearly 300 percent. The reason being because as a nation, we blend together a potent mix of effort, skills, technology and organizational capacities. Our enormous productivity is why we are the riches nation on earth. Until the mid-1970’s, the more productivity increased, the higher the real wages of the average working person. With that our standard of living doubles in 25 years. After the mid-1970’s, productivity continued to boom, but the average wage

Productivity refers to what can be produced at a given time with the least resources and effort. Productivity can also be defined as the ratio that estimates ho properly an organization converts its resources into goods/services or financial results such as profit. Workplace settings can be perceived as the pressures, situations, stresses, aggressive, demographic, social, regulations and technological elements that affect the operations, survival, and growth of organizations.

• As previously stated in the executive summary, the United States’ economy is currently stagnating. From week to week we may see a rise in one indicator while there is a fall in another indicator, but none of the rises or falls are drastic enough to have an overwhelming impact on the economy as a whole. Although the economy is not near as strong as it was before the 2008-2009 recession, arguably one of the biggest economic crises of the past decade, there has been much growth and strength throughout the past few years with this year being the first year in which the economy is in somewhat of a holding pattern. I believe, that even with the little growth and movement of the United States economy over the past year, it is still perhaps one of the strongest economies in the world at the moment.

With the focus on efficiency and work, productivity may only be beneficial to the bottom line of the budget. According to Gustafson (2000) stated:

The current macroeconomic situation in the United States is making a significant improvement due to the increase of productivity, 4.6 percent economic development, and with unemployment at 5.3 percent. But despite these positive results, many difficulties are still incoming locally and worldwide.

Industrial growth in the United States, transformed society in the US by changing the way things are manufactured. One big change was the discovery of electricity, which greatly changed the way things would be manufactured. Not only the discovery but the ability to bring it to manufactures. Thomas Edison's Electric Light Company effectively brought electricity to manifold customers. This enabled manufacturing to change tremendously and quickly (Norton, 2015.) The desire to compete also affected the way things would be manufactured. After the American Revaluation many in North America desired to compete with manufactures in England this was pursued by attempting to duplicate the process by which products were manufactured. One example of this

Through that conversation, Alex realized that “productivity is the act of bringing a company closer to its goal” ( 1992). Alex thought the company’s goal is to increase efficiencies but he later realized that every company’s goal, including his plant, is to make money or to be profitable and anything that comes closer to the goal is considered as productive.

The future of the economy is still going strong but one has not seen the great strides in advancement, as was the case from 1983 to 1993(economy). "Per capita personal income for the Nation is projected to increase 1.2 percent per year in 1993-2005, compared with a 1.4 percent increase per year in 1983-93. The growth rate slows as a result of the relationship between personal

Productivity is the cornerstone of any organizations profitability. This means that any organization can be deemed productive if all its moving parts are working