Economic doldrums

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University Press of America, Incorporated, 1995 - Business & Economics - 197 pages
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In Economic Doldrums, Robert McGillivray reviews U.S. economic trends over the period since World War II. A comparison is made between the period before 1973 and the years since, with interesting findings. Since 1973, the standard of living in the United States has been stagnant. McGillivray concludes that very low private and public investment are major causes of the slow growth in real per capita income and the steady decline in real earnings per worker experienced recently. Public policy is the main thread of the work, which is concerned with the effects of differing tax, spending, monetary, and other governmental policies. The book relies, however, on an analysis of business investment as the major stimulus to income generation. Economic revitalization through policies structured to provide investment and other income growth-inducing incentives is suggested. Housing, a private asset which produces both consumption services and returns to investment, is treated in most depth in a separate chapter. Contents: Dedication; Economic Stagnation; Introduction; Personal Income and Consumption; Private Investment and Wealth; Government Policy; Public Finance; Housing; Summary; Appendixes; Bibliography; Index.

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Economic Stagnation
Personal Income and

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About the author (1995)

Robert G. McGillivray is a senior consulting economist specializing in quantitative economic, transportation, and public finance analysis.

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