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IS U.S. ECONOMIC GROWTH OVER? FALTERING …

NBER WORKING PAPER SERIES. IS ECONOMIC GROWTH OVER? FALTERING INNOVATION CONFRONTS. THE SIX HEADWINDS. Robert J. Gordon Working Paper 18315. NATIONAL BUREAU OF ECONOMIC RESEARCH. 1050 Massachusetts Avenue Cambridge, MA 02138. August 2012. This research has been supported by the Kauffman Foundation. Many facts and relationships highlighted here are based on my book in progress, Beyond the Rainbow: The American Standard of Living Since the Civil War, under contract to the Princeton University Press. To limit the scope of this short paper, only a limited number of historical references and citations are included here.

1 1. Introduction . The prospects for future long -run U.S. economic growth were already dismal in 2007 but were little noticed in the continuing euphoria over the invention of the Internet and the related

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