Best 3 quotes of Robert J. Gordon on MyQuotes

There are four headwinds that are just hitting the American economy in the face: They're demographics, education, debt and inequality. They're powerful enough to cut growth in half.

Since 2000, we have seen a sharp decline in growth in output per person and its two components—growth in productivity and in hours of work per person—after corrections for the ups and downs of the business cycle. Because the basic data are unambiguous in registering a significant and deepening growth slowdown, the book’s title, The Rise and Fall of American Growth, has become a statement of fact.

The combined effects of growing inequality, a faltering education system, demographic headwinds, and the strong likelihood of a fiscal correction imply that the real median disposable income will grow much more slowly in the future than in the past.