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- DescriptionDeftly attacking by logic and statistics the dominant pessimism concerning future US ecomic and military power, Ross instead sees greater progress over the next two or three decades than during the last--a fifth rising phase of a Kondratiev cycle. The central force will consist of a surging rate of techlogical advance resulting from such invations as the electronic computer in combination with solid state application; energy-related superconductivity and fusion; biotechlogy and space; etc...An excellent, sprightly, and scholarly reply to recent doomsayers. Choice This groundbreaking work challenges pessimistic views of the U.S. ecomy, arguing instead that the U.S. is on the brink of a radical ecomic and social transformation, primarily caused by techlogical advance. According to Ross, the American ecomy, like other market-oriented ecomies, is subject to long waves, or cycles. In the early 1990s, he asserts, the U.S. ecomy will experience the beginning of a rising phase of a long wave, with the ecomy growing for two or three decades. The fundamental underlying cause of the booming ecomy will be the momentum associated with an unprecedented rate of techlogical advance; it will be associated with an increase in the standard of living of the average American beyond current expectations. Written in a style accessible to both scholars and educated lay readers, A Gale of Creative Destruction is an important counterweight to the recent spate of books which posit the impending collapse of the U.S. ecomy. Ross takes a unique approach to the subject by integrating structural change in the American ecomy with techlogical advance in an international setting. To build his case, he analyzes the historical long waves the U.S. ecomy has already seen and examines the techlogical advances such as superconductivity and biotechlogy. He shows that such major invations have coincided with the rising phase of long waves. He also explores changes in the workforce, the diminution of racial and gender discrimination, the increasing interdependence of the world's ecomies, and the tremendous strides being made toward more democratization and more vibrant market-driven ecomies, arguing that each of these factors will act to help fuel ecomic growth in the 1990s and beyond. Based on his analysis, Ross concludes that optimism about the ecomic future is more than warranted and that today's children will be significantly better off than their parents.
- Author BiographyMYRON H. ROSS is Professor of Economics at Western Michigan University. He has extensive experience as an economic consultant and for the past two decades has served as a land commissioner in the federal courts. He is the author of numerous articles as well as the text Income: Analysis and Policy.
- Author(s)Myron H. Ross
- Date of Publication22/08/1989
- SubjectEconomics: Professional & General
- Place of PublicationWestport
- Country of PublicationUnited States
- ImprintPraeger Publishers Inc
- Content Noteblack & white illustrations
- Weight389 g
- Width140 mm
- Height216 mm
- Spine14 mm
- Format DetailsLaminated cover
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