CEPR Seminar 2: Growth I - Why Economists Worry About It, and Why You Should Too
48:01
-
3 years ago
Economists worry a great deal about growth, and for good reason. This session will cover concepts related to growth and its importance - including why you should care about it. The session will present basic definitions, developments in wealthy countries. It will also go over how growth is measured - the gory secrets of gross domestic product (GDP) - including what gets counted (e.g. military spending, jails, pollution control equipment) and what doesn't (household production, crime, pollution).
Links will be drawn between growth, jobs, productivity and wages. The experience of Europe will be honestly compared to that of the U.S. (More vacation and shorter workweeks mean less growth in Europe - so what?) Finally, we will cover how environmental regulations (e.g. the Kyoto agreement) and defense spending slow growth (hint: it's the same way).
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View Dr. Baker's PowerPoint presentation here:
http://www.cepr.net/seminars/powerpoints/2005_09_23.pptEconomists worry a great deal about growth, and for good reason. This session will cover concepts related to growth and its importance - inc...all »Economists worry a great deal about growth, and for good reason. This session will cover concepts related to growth and its importance - including why you should care about it. The session will present basic definitions, developments in wealthy countries. It will also go over how growth is measured - the gory secrets of gross domestic product (GDP) - including what gets counted (e.g. military spending, jails, pollution control equipment) and what doesn't (household production, crime, pollution).
Links will be drawn between growth, jobs, productivity and wages. The experience of Europe will be honestly compared to that of the U.S. (More vacation and shorter workweeks mean less growth in Europe - so what?) Finally, we will cover how environmental regulations (e.g. the Kyoto agreement) and defense spending slow growth (hint: it's the same way).
***
View Dr. Baker's PowerPoint presentation here:
http://www.cepr.net/seminars/powerpoints/2005_09_23.ppt«
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