Lo Fruts no More In much talked about economics book Tyler Cowen advances a Stagnation Theory - the productivity curve is flattenomg out, there are few new ideas and most easy gains - the "low hanging fruit" - have been exploited. This would explain the prolonged slump in living standards of mid-America, rather than the growing divergence in wages.
An article by Ryan Avent. (0)
London 2011-03-02
Client: The Economist
Link: ›www.economist.com/node/18276872