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This book charts the fall of productivity growth and the rise of inequality within global economies and societies. Set out through a series of economic models, the impacts of falling rates of productivity growth, particularly in the USA, are examined in relation to lowering interest rates, the lifting of the stock market, and an increasingly unequal distribution of wealth. The economic impact of COVID-19, including the increased tendency to work from home and renewed public debt pressures, are contextualised within broader issues of wage suppression and discontent within the labor force to highlight how average workers have been left behind. The rise of China and the geopolitical tensions that it has created is also discussed. This book sets out the macro and microeconomic innovations that can create a revival in productivity growth in the coming years. It will be relevant to students and researchers interested in global economic trends and the political economy. Edmund Phelps, the 2006 Nobel Laureate in Economics, is McVickar Professor Emeritus of Political Economy and founding Director of the Center on Capitalism and Society at Columbia University. He is author of Rewarding Work, Mass Flourishing, and My Journeys in Economic Theory. Hian Teck Hoon is Professor of Economics at the Singapore Management University. He specialises in macroeconomics, international trade, and economic growth. Gylfi Zoega is Professor of Economics at the University of Iceland and (part-time) at Birkbeck College, London. His research is focused on saving, financial stability, and economic growth. .

International economic relations. --- Economics. --- International economic integration. --- Globalization. --- International Economics. --- Political Economy and Economic Systems. --- Economic Aspects of Globalization. --- Global cities --- Globalisation --- Internationalization --- International relations --- Anti-globalization movement --- Common markets --- Economic integration, International --- Economic union --- Integration, International economic --- Markets, Common --- Union, Economic --- International economic relations --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic policy --- Economic sanctions

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Economic utility --- Methodology of economics --- Argent (monnaie) --- Business cycles --- Chômage --- Commercial crises --- Conjoncture économique --- Conjunctuur --- Crises (commercial) --- Crises économiques --- Crisissen (Economie) --- Cycles économiques --- Depressies (Economie) --- Depressions --- Economic cycles --- Economic depressions --- Economic fluctuations --- Economisch evenwicht --- Economische crisissen --- Equilibre (Economie) --- Equilibre économique --- Equilibrium (Economics) --- Evenwicht (Economie) --- Geld --- Interest rates --- Joblessness --- Money --- Rate of interest --- Rentevoeten --- Taux d'intérêt --- Unemployment --- Werkloosheid --- Interest --- Equilibre (Economie politique) --- Intérêt (Economie) --- Monnaie --- Business cycles. --- Depressions. --- Money. --- 331.56 --- 338.12 --- #ECO:01.02:economie theorie geschiedenis denken --- 330.362 --- conjoncture --- theories economiques --- chomage --- taux d'interet --- monnaie --- AA / International- internationaal --- 331.030 --- 331.00 --- 305.96 --- 330.3 --- 330.01 --- 338.542 --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- Interest and usury --- Finance charges --- Income --- Employment (Economic theory) --- Full employment policies --- Labor supply --- Manpower policy --- Right to labor --- Underemployment --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Economics --- Stagnation (Economics) --- Statics and dynamics (Social sciences) --- Crises, Commercial --- Recessions --- Cycles --- Financial crises --- Werkloosheid. Arbeidsreserve --- Conjunctuurbewegingen. Economische fluctuatie. Investeringscycli. Conjunctuuranalyse. Conjunctuuronderzoek. Conjunctuurprognoses --- conjunctuur --- economische theorieen --- werkloosheid --- rentevoeten --- geld --- Conjunctuurschommelingen: algemeenheden. --- Economische bewegingen: algemeenheden. --- Macro-economisch model van een of verschillende landen. --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics. --- Theorie van het economisch evenwicht. --- Interest. --- Unemployment. --- Equilibrium (Economics). --- 338.12 Conjunctuurbewegingen. Economische fluctuatie. Investeringscycli. Conjunctuuranalyse. Conjunctuuronderzoek. Conjunctuurprognoses --- 331.56 Werkloosheid. Arbeidsreserve --- Cycles économiques --- Crises économiques --- Intérêt (Economie) --- Chômage --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- Macro-economisch model van een of verschillende landen --- Theorie van het economisch evenwicht --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Economische bewegingen: algemeenheden --- Conjunctuurschommelingen: algemeenheden --- Cycles économiques. --- Crises économiques. --- Équilibre (économie politique) --- Chômage. --- Intérêt (économie politique) --- Cycles économiques. --- Crises économiques. --- Équilibre (économie politique) --- Chômage. --- Intérêt (économie politique)