The American Economy The Struggle for Supremacy in the 21st Century

This work focuses on the economic challenges the American economy has met during the post-World War II era and on the new challenges - represented notably by the competing economies of Japan, Germany, and the entire European Union - which confront it as the 21st century approaches. The book shows how the transformations brought about by international competition fit into the long-term processes of economic growth and change with respect to structural mutations, technological development, the role of government, and the evolution of government-business relations. Professor Spulber presents a detailed critique of the thesis alleging that the American economy has experienced some kind of decline. He demonstrates not only that such a decline has not taken place but also that the economy will continue to strengthen if growth and change are primarily left to emerge from the impulses and incentives of the private economy.

This work focuses on the economic challenges the American economy has faced during the post-World War II era, and on the new challenges - represented notably by the competing economies of Japan, Germany, and of the entire European Union - which confront it as the twenty-first century approaches. Professor Spulber presents a detailed critique of the thesis alleging that the American economy has experienced some kind of decline, and also argues that the economy will continue to move forward energetically and successfully if growth and change are primarily left to emerge from the impulses and incentives of the private economy.

Preface; Part I. A Challenge Met: 1. Postwar growth and change; 2. Government-business relationship; Part II. The New Challenge and its Implications: 3. The challenge; 4. The implications; Part III. The Long Run Development of the US Economy: 5. The structural transformations; 6. The state machine and the evolving economy; Part IV. The Road Ahead: 7. New priorities; 8. Contests at technological frontiers.

This work focuses on the challenges the American economy has faced during the post-World War II era, and on the twenty-first-century challenges of Japan, Germany, and the entire European Union. The author challenges the view that the US economy has experienced a post-war decline, and illustrates how the economy will experience growth and change.