Sustaining U.S. Economic Growth.

Autor/inn/en	Delong, J. Bradford; Goldin, Claudia; Katz, Lawrence F.
Titel	Sustaining U.S. Economic Growth. Gefälligkeitsübersetzung: Nachhaltiges Wirtschaftswachstum in den USA.
Quelle	Aus: Aaron, H. (Hrsg.); M, J. (Hrsg.); S, P. (Hrsg.): Agenda for the Nation. (2003) S. 17-60 PDF als Volltext kostenfreie Datei Link als defekt meldenVerfügbarkeit
Sprache	englisch
Dokumenttyp	online; Sammelwerksbeitrag
ISBN	978-0-8157-0126-2; 978-0-8157-9605-3
Schlagwörter	Bildung; Bildungsexpansion; Bildungspolitik; Determinante; Technologiepolitik; Humankapital; Investition; Nachhaltige Entwicklung; Produktivität; Wachstumspolitik; Wirtschaftswachstum; Berufsbildung; Arbeitskräfteangebot; 20. Jahrhundert; Entwicklungspotenzial; USA
Abstract	"Rapid economic growth will facilitate solutions to virtually every problem examined in other chapters of this book. Fast economic growth not only raises household incomes and consumer living standards directly, it also softens many other policy trade-offs that Americans face. Because so many different factors affect economic growth, a wide range of policies can contribute to growth-revisions of rules governing intellectual property to encourage technological advance, increases in public saving, incentives for private saving, incentives to boost private investment, and policies to boost the skills of the labor force. However, we have much uncertainty concerning how to design effective policies to boost growth in many of these areas. Designing the right intellectual property system to accelerate technological progress in the twenty-first century is an extremely hard problem. Puzzles remain when it comes to the task of designing effective incentives for private saving. Things are only a little easier when it comes to the task of designing cost-effective policies to encourage private investment in physical capital and research and development. One line of policy remains both straightforward and effective in boosting capital accumulation and growth: the government should run a budget surplus. By contrast, we believe policies to increase human capital investments in younger cohorts, especially for minorities and those from low-income families, are promising tools both for raising U.S. growth and reducing wage inequality. The enormous rise in the college wage premium since 1980 has created incentives for increased education. Not all groups have invested equally, however. A lack of resources continues to deter enrollment of able children from lowincome families. Differences in college enrollment rates by race and Hispanic-origin have actually widened since 1980. Improved targeting of college financial aid, earlier mentoring policies, and a more transparent financial aid system promise large payoffs not only for affected families but for the United States as a whole. Greater access of poor youth to effective secondchance training programs such as the Job Corps is also warranted. Moreover, since "learning begets further learning," human capital policies must also target early childhood. The United States also should be willing to experiment further with policies (possibly involving school choice) that promise to improve the quality of primary and secondary schooling. And policies, such as housing vouchers, that may serve to reduce the trend towards rising residential segregation by economic status could also prove beneficial. During the twentieth century America's investment in education was a principal source of its extraordinary economic performance. This category of investment is lagging. Projections indicate much reduced rates of increase in the educational attainment of the American labor force. A renewed commitment to invest in education embodied in well-designed public policies is probably the most important and fruitful step federal, state, and local officials could take to sustain American economic growth." (Text excerpt, IAB-Doku).
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2024/1