Robust economic growth has long been the engine of prosperity in the United States, and has resulted in a sustained increase in living standards that has made the U.S. economy the envy of much of the modern world. The prospects for future economic growth in the United States, however, are uncertain. Some observers believe that recent economic, demographic and political trends — including increasing income inequality, an educational system that is ineffective in many dimensions, an aging population coupled with a lower labor force participation rate, and the absence of the political will to address large-scale fiscal imbalances — have created pervasive headwinds that will seriously limit future economic growth in the country. By marked contrast, some researchers argue that technological advances, especially in the area of artificial intelligence, are likely to result in rapid automation-related increases in future growth.
At this event, John Diamond, the Baker Institute’s Edward A. and Hermena Hancock Kelly Fellow in Public Finance and director of the Center for Public Finance, and George Zodrow, the Cline Chair of Economics at Rice University and a Rice faculty scholar at the Baker Institute, focused on the outlook for economic growth in the U.S. by drawing from their edited volume “Prospects for Economic Growth in the United States” (Cambridge University Press, 2021). An audience Q&A followed the presentation.
6:30 p.m. — Presentation
7:00 p.m. — Audience Q&A
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John W. Diamond, Ph.D.
Edward A. and Hermena Hancock Kelly Fellow in Public Finance and Director, Center for Public Finance, Baker Institute
George R. Zodrow, Ph.D.
Baker Institute Rice Faculty Scholar; Allyn R. and Gladys M. Cline Chair of Economics, Rice University