Productivity growth, inflation, and unemployment

Gordon, Robert J.

"This collection of seventeen essays treats the three core topics of macroeconomics - economic growth, inflation, and unemployment. In all three topic areas, the essays have established the context of macroeconomic discussions, including the author's early skepticism that the New Economy and Internet warranted the hype and overblown stock market valuations of the late 1990s, His reinterpretation of the roles of capital accumulation and technological change in economic growth, his reinvention of Keynesian macroeconomics as the interplay of shocks not just to aggregate demand but also to aggregate supply, and his symmetric explanation of why inflation and unemployment were so high in the 1970s and so low in the late 1990s. This collection is unique not only in the importance of its topics and conclusions, but in the novelty of its five newly written introductions, one for the entire...

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