Cowen on the Great Stagnation

Tyler Cowen talks with host Russ Roberts about the ideas in his e-book book, The Great Stagnation. Cowen argues that in the last four decades, the growth in prosperity for the average U.S. family has slowed dramatically. Cowen argues that this is the result of a natural slowing in innovation and that we expect too much growth relative to what is possible. Cowen expects improvements in the rate of growth in the future when new areas of research yield high returns. The conversation includes a discussion of the implications of Cowen's thesis for politics and public policy.