The "Great Stagnation"
Productivity growth began to slow down sharply in developed countries after 1973, but there was a revival in the 1990s which still left productivity growth below the peak decades earlier in the 20th century. A recent book titled The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick and Will (Eventually) Feel better by Tyler Cowen is one of the latest of a several stagnation books written in recent decades. Turning Point by Robert Ayres and The Evolution of Progress by C. Owen Paepke were earlier books that predicted the stagnation.
Read more about this topic: Economic Stagnation
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