"All That Is Solid Melts into Air": Since 1870, Roughly One-Fifth of the Economy Is Transformed Every Thirty Years

This time, we experts in the liberal arts—the artes liberales, the skills appropriate to enrich the lives and make productive those of us who are free and must find a way to live by our wits, as we are not bound by servile chains or possessed of some powerful form of status-group societal capital and privilege—join those in the barrel. Schumpeterian ceative destruction has massively raised living standards, but not all boats rise the same way, or at all. And it is a different set of boats that are most materially affected in each generation…

Share

Share DeLong’s Grasping Reality: Economy in the 2000s & Before


Does this have a place in my Econ 196 course for next semester? Behind the paywall for now as it is only a draft, and I should revise it heavily before I release it to run free in this wide green world:

Read more