{"product_id":"fully-grown-why-a-stagnant-economy-is-a-sign-of-success-paperback","title":"Fully Grown: Why a Stagnant Economy Is a Sign of Success - Paperback","description":"\u003cp\u003eby \u003cb\u003eDietrich Vollrath\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003cb\u003eVollrath challenges our long-held assumption that growth is the best indicator of an economy's health.\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e Most economists would agree that a thriving economy is synonymous with GDP growth. The more we produce and consume, the higher our living standard and the more resources available to the public. This means that our current era, in which growth has slowed substantially from its postwar highs, has raised alarm bells. But should it? Is growth actually the best way to measure economic success-and does our slowdown indicate economic problems? \u003cp\u003e\u003c\/p\u003e The counterintuitive answer Dietrich Vollrath offers is: No. Looking at the same facts as other economists, he offers a radically different interpretation. Rather than a sign of economic failure, he argues, our current slowdown is, in fact, a sign of our widespread economic success. Our powerful economy has already supplied so much of the necessary stuff of modern life, brought us so much comfort, security, and luxury, that we have turned to new forms of production and consumption that increase our well-being but do not contribute to growth in GDP. \u003cp\u003e\u003c\/p\u003e In \u003ci\u003eFully Grown\u003c\/i\u003e, Vollrath offers a powerful case to support that argument. He explores a number of important trends in the US economy: including a decrease in the number of workers relative to the population, a shift from a goods-driven economy to a services-driven one, and a decline in geographic mobility. In each case, he shows how their economic effects could be read as a sign of success, even though they each act as a brake of GDP growth. He also reveals what growth measurement can and cannot tell us-which factors are rightly correlated with economic success, which tell us nothing about significant changes in the economy, and which fall into a conspicuously gray area. \u003cp\u003e\u003c\/p\u003e Sure to be controversial, \u003ci\u003eFully Grown\u003c\/i\u003e will reset the terms of economic debate and help us think anew about what a successful economy looks like.\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cb\u003eDietrich Vollrath\u003c\/b\u003e is professor of economics at the University of Houston. He is coauthor of \u003ci\u003eIntroduction to Economic Growth\u003c\/i\u003e, now in its third edition, and writes the \u003ci\u003eGrowth Economics Blog\u003c\/i\u003e. \u003cbr\u003e\u003c\/p\u003e\u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 296\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.62 x 9 x 6 IN\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eIllustrated:\u003c\/strong\u003e Yes\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e July 08, 2022\u003c\/div\u003e","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":51766759850272,"sku":"9780226820040","price":19.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0974\/9764\/5344\/files\/00e72f0b7dcf0f35d2925db8b8a25e4f.webp?v=1780298343","url":"https:\/\/ebocreations.com\/products\/fully-grown-why-a-stagnant-economy-is-a-sign-of-success-paperback","provider":"The E-Book Oasis LLC","version":"1.0","type":"link"}