Introduction and Summary | p. 1 |
Growth and Equity: Compatible Objectives | p. 4 |
A Framework for Enhancing Growth and Equity | p. 7 |
A Preview of Our Recommendations | p. 10 |
Slow Growth and Other Economic Ills | p. 15 |
The Slowdown of Productivity Growth | p. 15 |
Why Is Productivity Growth Important? | p. 20 |
Sources of Productivity Growth | p. 31 |
Subsidiary Problems | p. 39 |
Conclusion | p. 46 |
Inequality | p. 48 |
Earnings Inequality | p. 50 |
Family Income Inequality | p. 64 |
Implications | p. 71 |
Increasing the Pace of Innovation | p. 74 |
Sustaining American Strength in Basic Research | p. 74 |
Lengthening Time Horizons | p. 91 |
Liability Reform | p. 103 |
Encouraging Joint Ventures | p. 106 |
Should America Adopt an Industrial Policy? | p. 107 |
Conclusion | p. 108 |
Improving the Labor Market | p. 110 |
Work Force Preparation | p. 112 |
Remedies | p. 121 |
Improvements in Labor Market Institutions | p. 133 |
Promoting Investment | p. 142 |
Encouraging Investment | p. 142 |
Encouraging Investment with High Social Returns | p. 156 |
Summary | p. 172 |
Foreign Trade and Investment | p. 174 |
Promoting Productivity through Freer Trade | p. 175 |
Promoting Productivity through Foreign Direct Investment | p. 182 |
New Strategies for Gaining Access to Foreign Markets | p. 190 |
Helping Displaced Workers | p. 194 |
An Agenda for Growth and Equity | p. 198 |
Research from the Center for Economic Progress and Employment | p. 208 |
Notes | p. 211 |
Index | p. 233 |
Tables | |
Indicators of Quality of Life in the United States, Selected Years, 1960-89 | |
Contributions to Average Labor Productivity Growth, by Type of Contribution, 1929-82 | |
Average Annual Growth in GDP per Hour, by Major Economic Sector, 1948-73, 1973-89 | |
Sources of Family Income Change, by Quintile, 1979, 1989 | |
Government Lists of Important Technologies | |
Average Annual Hours Worked in Manufacturing, Seven OECD Countries, 1989 | |
Productivity Growth and Trade Data, Selected Periods, 1973-88 | |
Summary of Proposals | |
Figures | |
Measures of U.S. Productivity Growth, Selected Periods, 1948-90 | |
Output per Hour and Real Compensation, 1947-90 | |
GDP per Capita for Canada, Germany, and Japan Relative to the United States, Purchasing-Power-Parity Exchange Rates, 1950-90 | |
National Saving and Investment Rates, by Country, 1980-90 | |
Relative Manufacturing Productivity, Four Countries, 1973-89 | |
Share of Global High-Technology Markets, by Country, 1980, 1984, 1990 | |
Import Penetration of U.S. High-Technology Markets, by Type of Import, 1980, 1987, 1990 | |
Share of Manufacturing in the U.S. Economy, 1929-89 | |
Inequality of U.S. Family Income, 1947-91 | |
Rate of Growth in Annual Earnings, Male Workers, 1967-79, 1979-89 | |
Differential in Annual Income between Male High School and College Graduates, by Age, 1978, 1987 | |
Family Income Growth, Selected Parts of Income Distribution, 1973-91 | |
Academic RandD Expenditures, by Type, and Funding, by Source, 1989 | |
Academic RandD, United States and Selected Other Countries, by Field, 1987 | |
Federal RandD Funding, by Function, 1981, 1989 | |
Total and Nondefense RandD Expenditures as Percent of GNP, by Country, 1971-87 | |
Ratio of RandD Spending to Industrial Production, 1960-89 | |
International Performance on Tests in Science and Mathematics, 1980s | |
Enrollment Rates in Postsecondary Education, Selected Industrialized Countries, Late 1980s | |
Average Public Spending per Person Age 16-24 for Education and Training | |
Probability of Receiving Training after Completion of Formal Schooling and Entry into Employment, Young American Men | |
Net Private Investment and Private and Public Saving as Percent of GDP, 1970-91 | |
Nominal and Real Interest Rates for Moody's AAA Corporate Bonds, 1971-91 | |
Government and Full-Employment Deficits, Actual and Projected, as Percent of GDP, 1970-97 | |
Federal Interest Payments and Budget Deficits as Percent of GDP, 1962-91 | |
Main Components of Federal Expenditures as Percent of GDP, 1962-91 | |
Net Public Capital Stock and Gross Investment as Percent of GNP, 1950-91 | |
State and Local Government Investment in Core Infrastructure Projects, by Type, 1950-91 | |
Federal and State and Local Government Expenditures for Core Infrastructure, 1960-90 | |
Relationship of Trade and Productivity Performance, Selected Periods, 1973-88 | |
Alternative Rates of Return for the United States, 1983-90 | |
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