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. Tyler Cowen
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More Quotes By Tyler Cowen
  1. The Christian right, which trumpets the theme of family values, damns contemporary culture for undermining older traditions. Yet many individuals from this camp are not concerned first and foremost about family values per se. Family is a codeword for constraint; families and family values place...
  2. Food is a product of supply and demand, so try to figure out where the supplies are fresh, the suppliers are creative, and the demanders are informed.
  3. The lesson about food is that the most predictable and the most orderly outcomes are always not the best. They are just easier to describe. Fads are orderly. Food carts and fires aren't. Feeding the world could be a delicious mess, full of diverse flavors...
  4. 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...
  5. We will be returning to historical levels of inequality. We'll view post-war America as a kind of strange interlude not to be repeated. It won't be the dreams that we all had that virtually all incomes go up in lockstep at three percent a year....
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