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The summer’s most talked about working paper in economics is by Robert Gordon, and it is simply titled "Is US Economic Growth Ov
The summer’s most talked about working paper in economics is by Robert Gordon, and it is simply titled "Is US Economic Growth Ov
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2014-06-25
81
问题
The summer’s most talked about working paper in economics is by Robert Gordon, and it is simply titled "Is US Economic Growth Over?" And well he might ask: GDP per capita, the most obvious measure of economic growth, is lower today than it was when the financial crisis began in 2007.
The western world’s failure to recover from the crisis surely explains why Gordon’s gloomy thesis is getting so much attention, but, in fact, he takes great pains to avoid drawing conclusions from any short-term difficulties — even if the short term has now lasted more than half a decade. Gordon has been arguing since the days of the dotcom mania that the information revolution looks rather trivial compared with earlier waves of innovation, such as the internal combustion engine, indoor plumbing, electrification and the telephone —all of which took hold from about 1850 to 1900. This claim was plausible then and it’s plausible now.
Let’s take this line of argument further. Economic growth is a modern invention; 20th-century growth rates were far higher than those in the 19th century, and pre-1750 growth rates were almost imperceptible by modern standards. Many have seen this as an encouraging trend, but Gordon draws a different lesson: growth is a recent phenomenon, so why assume that it will last? If Gordon is right to claim that modern inventions are less impressive than those of the late 19th century, we would expect to see slow growth in US real GDP per capita. And, indeed, growth has been slowing since the 1960s, even setting the current recession to one side.
All these observations raise uncomfortable questions. But for some answers, we need to ponder the likely forces at play. Both Gordon and Tyler Cowen, author of The Great Stagnation, point out that some easy gains—such as sending children to secondary school or allowing women to have careers — can only be enjoyed once. Important inventions, too — such as the car, the washing machine and the lavatory — admit only gradual improvement after the first few decades. Demographics and debt accumulation have both speeded up growth in the past and, as the pendulum swings back, demographics and debt repayment will reduce it in the future. Then there are pure resource constraints.
Despite all this, I remain an optimist. My inner contrarian also tells me to ignore Robert Gordon. During the dotcom boom I cited his work to anyone who would listen, but we are all stagnationists now. And yet: innovation won’t happen by magic. I argued in my last book, Adapt, that scientific and technical progress now seem to require larger teams, more cross-disciplinary work, more money, and older, more specialised scientists. It has become an organisational challenge that we are yet to take as seriously as we should. We’ve lived with astonishing economic growth for 250 years; perhaps we are starting to take this exciting companion for granted.
In the last paragraph, the author suggests we______.
选项
A、accept the gloomy prospect of economy
B、realize the great difficulty in making innovations
C、understand that innovation is insufficient in stimulating economy
D、keep confident about regaining the growth of the past 250 years
答案
B
解析
末段作者指出,尽管存在诸多不利因素,但我对未来依然持乐观态度。然后又转折指出,科技创新不会凭空发生,若想促进科技的进一步发展,我们需要投入更大的人力物力财力,需要组建更大的团队,进行更多的跨领域研究等,而这对我们来说是一种巨大的挑战。可见,末段主要就如何促成新的科技创新提出建议,并提醒人们认识到创新过程中存在的巨大困难,[B]选项正确。
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考研英语一
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