Work and Leisure in America
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What does the future have in store for the United States in regard to technological advances, economic growth, and employment? What insights about the future can be gleaned from a careful examination of economic and institutional developments over the past seventy years? This book examines these questions and many more with the hope of helping readers gain a better understanding of the main factors that determine the path of sustainable progress. To achieve this goal, this book begins by presenting an in-depth summary of the statistical record of the United States from 1950 to 2019 with respec...
What does the future have in store for the United States in regard to technological advances, economic growth, and employment? What insights about the future can be gleaned from a careful examination of economic and institutional developments over the past seventy years? This book examines these questions and many more with the hope of helping readers gain a better understanding of the main factors that determine the path of sustainable progress. To achieve this goal, this book begins by presenting an in-depth summary of the statistical record of the United States from 1950 to 2019 with respect to changes in the major demographic components, the labor force, employment, hours of work, wages and income distribution, and patterns of consumer spending. Part two explores the major institutional and behavioral changes over the past seventy years that have influenced these trends, focusing on changes in family structure, the religious landscape, and trust in the media and public institutions. Part three summarizes the key lessons learned from the economic, institutional, and value changes over the past seventy years, then uses these conclusions as a foundation for exploring potential future trends. Throughout the book, the author argues that sustainable progress does not rely solely on economic forces but depends instead on a supportive institutional framework and a value system that provides a suitable moral compass. While recognizing the pivotal role of technology and labor markets, the author suggests that the fundamental issues facing the United States are largely outside the economic sphere. These include inequality, justice, human relations, the functioning of public and private institutions, trust, and shared values. This book is a must read for anyone who wants to understand the factors that will shape the future of the United States and all other developed economies in the decades to come.
