Summary of The Rise and Fall of American Growth: by Robert J. Gordon | Includes Analysis

By . IRB Media

Summary of The Rise and Fall of American Growth by Robert J. Gordon | Includes Analysis

Preview:

The Rise and Fall of American Growth is an analysis of American growth from 1870 to the present. It focuses especially on the unprecedented “special century” of 1870-1970.

Throughout most of human history, economic growth was basically flat or advanced very slowly. After the Civil War in the United States, however, life began to improve exponentially. This was due to a series of “Great Inventions,” including, most notably, electricity, the means of channeling and directing electricity, and the internal combustion engine. Homes became tied to systems of electricity, heat, and sewage. The last was particularly important, as cleaner water, abetted by new medicines that immunized against childhood disease, led to a dramatic drop in infant and child mortality.

The progress between 1870 and 1970 is routinely underestimated by measures of gross domestic product (GDP) because GDP does not measure the quality of life improvement by increased life expectancy…

PLEASE NOTE: This is key takeaways and analysis of the book and NOT the original book.

Inside this Instaread Summary of The Rise and Fall of American Growth

· Overview of the book

· Important People

· Key Takeaways

· Analysis of Key Takeaways

About the Author

With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

• Language: English
• Publisher: IRB Media
• Release date: Jun 9, 2016
• ISBN: 9781683780595

. IRB Media

With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Overview

The Rise and Fall of American Growth is an analysis of American growth from 1870 to the present. It focuses especially on the unprecedented special century of 1870-1970.

Throughout most of human history, economic growth was basically flat or advanced very slowly. After the Civil War in the United States, however, life began to improve exponentially. This was due to a series of Great Inventions, including, most notably, electricity, the means of channeling and directing electricity, and the internal combustion engine. Homes became tied to systems of electricity, heat, and sewage. The last was particularly important, as cleaner water, abetted by new medicines that immunized against childhood disease, led to a dramatic drop in infant and child mortality.

The progress between 1870 and 1970 is routinely underestimated by measures of gross domestic product (GDP) because GDP does not measure the quality of life improvement by increased life expectancy. GDP also does not adequately measure the improvement in job conditions as new technology meant that men shifted from physical labor on the farm to less grueling jobs. Women no longer had to spend their days hauling water into the home and could begin to join the