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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
25
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.
The author may think of Gordon’s argument as being______.
选项
A、reasonable
B、exaggerated
C、self-contradictory
D、biased
答案
A
解析
本文针对戈登“美国经济增长已停滞”这一观点进行分析,第二段作者指出,戈登的结论不是根据目前的经济困境而提出的,而是建立在对科技发展的长期观察基础上得出的;第三段先对戈登的观点进行了分析,然后用事实证明了戈登观点的正确性;第四、五段分析了影响经济增长的因素,并指出若想促进新的科技进步,我们需要投入更多的力量;最后作者总结并暗示我们,不应该将高速增长视为理所当然的事情,经济增长确实有可能停滞。综上,作者与戈登的观点一致,[A]选项正确。
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0
考研英语一
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