Readings

In Why Economies Grow (Century), journalist Jeff Madrick providesa readable and reasoned correction to the oft-overstated view thatthe Internet created a new economy characterized by higher levels ofproductivity growth and prosperity. He also rebuts the falselyscientific arguments of conservative economists who say lower taxesor more research and development are the magic ingredients toeconomic growth. Less convincing, however, are his own ideologicallytinged arguments that there was really nothing positive about the1990s productivity surge or that rising income inequality now doomsthe United States to slow economic growth.

-- S.P.