eBook - 1995
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MIT Press
Postwar US Economic Growth traces the outstanding postwarperformance of the US economy to investments in tangible assets and human capital.
These two volumes present empirical studies that have permanently altered professional debates over investment and productivity as sources of postwar economic growth in industrialized countries. The distinctive feature of investment is that returns can be internalized by the investor. The most straightforward application of this idea is to investments that create property rights, but these volumes broaden the meaning of capital formation to include investments in education and training.

Postwar US Economic Growth traces the outstanding postwar performance of the US economy to investments in tangible assets and human capital. This volume provides the starting point for a new consensus on policies to generate growth by stimulating and rewarding investments. These policies will focus on returns that can be internalized by investors, ending the fruitless search for "spill overs" that can generate substantial growth without providing incentives for capital formation.

Book News
The first of two volumes of Jorgenson's (economics, Harvard U.) empirical studies of economic growth. This volume documents investment in tangible assets and human capital as the predominant source of postwar US economic growth. Jorgenson explains the embodiment hypothesis and productivity change, and discusses issues in growth accounting, measuring economic performance in the private sector, and investment in education and US economic growth. Includes numerous tables. Annotation copyright Book News, Inc. Portland, Or.

Publisher: Cambridge, Mass. : MIT Press, c1995
ISBN: 9780585237572
Characteristics: 1 online resource (xxviii, 434 p.) : ill


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