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by JBlue42
3539 days ago
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Thanks for the reply. I know that in the 70s (I was born in 83 so only know from history) the oil crisis occurred but I've never really grasped the that one moment in time (vs any of the other tumultuous ones in the 20th century) has led to economic issues of today. I'm guessing Nixon's visit to China, opening up that economic gateway, and other movements of that time led to globalization and lot of issues we're coping with now. Usually it's the chart for wage stagnation that befuddles me most about those years - why did that start then? Questioning out loud here but curious for any sources/reading. |
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Sure. I'll practically throw the book at you.
An essay to read on the subject by Neal Stephenson, the author of The Diamond Age and Snowcrash.
http://www.worldpolicy.org/journal/fall2011/innovation-starv...
Startup founder and venture capitalist Peter Thiel on stagnation:
https://www.youtube.com/watch?v=NMpmfaE9bII
Put your thinking hat on stuff and it just gets 120 views which is horrible. Of all the things I'm posting this is the one you really need to pay attention to.
Tyler Cowen, economist, well known marginalrevolution blog:
https://www.youtube.com/watch?v=TIHGOo7OC8c
Another economist Robert Gordon has made this subject his life's work, it's a monster of a book if you want to dive deeply:
The Rise and Fall of American Growth
http://press.princeton.edu/titles/10544.html
Bill Gate's review: http://qz.com/742686/bill-gates-recommends-this-economics-bo...
I believe Elon Musk (who started Paypal with Thiel) started SpaceX and Teslamotors partly because he agrees with the hypothesis and thinks it quite likely. If you think of it the last visit to the moon took place half a century ago and there hadn't been a new motor company in America since '56.