The Past Speaks

I’ve previously blogged about Tyler Cowen’s book The Great Stagnation.

The Economist recently published a review of this book in which it sided with Cowen’s opponents, who have argued that the stagnation in median incomes in the US since the 1970s is due to (politically driven) changes in the distribution of wealth as opposed to a slow-down in the rate of technological progress.  The online version of that magazine contains a symposium in which economists debate Cowen’s thesis.