Chapter 27

Economic Growth Is Key to Long-Term Living Standards

Diffusion of Major Technologies during the Twentieth Century

The Classical Dynamics
of Smith and Malthus

Environmental Constraints Can Be Overcome with New Technologies

Economic Growth through
Capital Deepening

Technological Advance Shifts Up the Production Function

Economic Growth Displays
Striking Regularities

Productivity Growth Slowed in 1970s but Recovered in Late 1990s

The Components of the Productivity Surge in the Late 1990s