The Rise and Fall of American Growth: Gordon

The video features a discussion with Professor Robert Gordon, a renowned labor economist, on various economic topics. It covers the role of innovation in the economy, the impact of government policy on innovation, and the debate between job creation through manufacturing versus innovation. The conversation also touches on the government's role in fostering innovation, productivity's link to wage growth, and economic optimism for increased participation. Additionally, it addresses labor market tightness, income inequality, and the influence of monetary policies.

What is Professor Gordon's stance on government intervention in innovation?

• He believes government intervention hinders innovation.

• He thinks the American innovation machine operates well on its own.

• He believes it is essential for progress.

• He is unsure about the role of government.

According to the discussion, what is a major source of innovation in corporate America since World War Two?

• University-led initiatives

• Government-funded research

• International collaborations

• Private sector investments

What challenge is associated with measuring productivity, as discussed in the video?

• It is irrelevant to economic discussions.

• It is only applicable to certain industries.

• It is difficult and affects wage growth.

• It is straightforward and consistent.

What recent change did Costco make regarding wages?

• Decreased wages for the first time in nine years

• Increased minimum wage for the first time in nine years

• Introduced performance-based bonuses

• Eliminated overtime pay

What is a significant issue related to labor supply mentioned in the discussion?

• Excessive labor supply leading to unemployment

• Over-reliance on part-time workers

• Lack of skilled workers in the market

• Tightness of labor supply affecting job availability