Tag: Robert J. Gordon

Seven years have passed since I first developed this innovation wheel. In that time, the possibility space is more visible to a larger audience. The conclusion originally drawn by Robert J. Gordon – that we have taken the standard of living as far as it will go – is still suspect to me. In light of the rapid advancements we are seeing, I am re-posting this seven years later.

In a brilliant journey through the economic history of the western world, author Robert J. Gordon looks at The Rise and Fall of American Growth. This recent book focuses on a revolutionary century that impacted the American standard of living more than any period before or after. Our standard of living is typically viewed as the ratio of total production of goods and services (real GDP) per member of the population. But this measure fails to truly capture enhancements to our well-being. Human well-being is influenced by advances in the areas of food, clothing, shelter, energy, transport, education, health, work, information, entertainment, and communications. The special century (1870 – 1970) that followed the Civil War was made possible by a unique clustering of what the author calls the great inventions. Clearly – as the visual I developed depicts – the great inventions of the second industrial revolution significantly improved our well-being: