“If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.”
Quote by Tyler Cowen
Author
Tyler Cowen
Tyler Cowen is an American economist known for his extensive research in economics, market theory, and the digital economy. He is a professor of economics at George Mason University and is also an active writer and critic. His books, such as 'Discovering Economics' and 'The Power of Markets,' have had a significant impact on the field of economics. more
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