The Incentive Reward Complex and the Slowest U.S. Post-WW II Recovery on Record

Beranek, William; Kamerschen, David R.

doi:10.18559/ebr.2017.2.1

Author

Beranek William (University of Georgia, Athens), Kamerschen David R. (University of Georgia, Athens)

Title

The Incentive Reward Complex and the Slowest U.S. Post-WW II Recovery on Record

Source

Economics and Business Review, 2017, vol. 3 (17), nr 2, s. 3-11, tab., bibliogr. 18 poz.

Keyword

Dobra inwestycyjne, Inwestycje, Inwestycje pośrednie, Ulgi inwestycyjne, Wzrost gospodarczy, Produktywność
Investment goods, Investment, Indirect investments, Investment incentives, Economic growth, Productivity

Note

JEL Classification: G10, G30, M40
summ.

Country

Stany Zjednoczone Ameryki
United States of America (USA)

Abstract

Government policymakers (both Fed and U.S. Treasury) remain puzzled over the lack of vigor in the post-Great Recession recovery of 2010 to 2017, blaming it in part on a slowdown in productivity growth and the retirement of workers. But an equally plausible explanation lies in their failure to recognize the importance of the Incentive Reward Complex in providing an improved springboard for economic growth. Support for this hypothesis lies in the Fed's data base, along with evidence that fails to support stimulus policies of both the U.S. Treasury and the Fed. Rather than more of these types of government interventions, we may need fewer of them along with more of the culture of incentives and rewards. (original abstract)

Accessibility

The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business

Full text

Bibliography

Alchian, A. (1950). Uncertainty, evolution and economic theory. Journal of Political Economy, 58(3), 211-221.
Barro, R., & Jin, T. (2016). Rare events and long-run risks, NBER Working Paper No. 21871.
Batkins, S. (2016, August 6). 600 major regulations. Insight, American Action Forum. Retrieved from https://www.americanactionforum.org/insight/600-major-regulations/.
Bierman, H., & Smidt, S. (1964). The capital budgeting decision. New York, NY: Macmillan Publisher.
Federal Reserve Bank of Saint Louis. (2016). Using data from U.S. Department of Commerce, Bureau of Economic Analysis.
Feldstein, M. (2013, December 8). Saving the fed from itself. New York Times.
Friedman, M. (1962) . Capitalism and freedom. Chicago, Ill.: University of Chicago Press.
Gordon, R. (2016, May). Perspectives on the rise and fall of American growth. American Economic Review, 105(5), 72-76.
Hansen, A. (1941). Fiscal policy and business cycles. London, England: H.H. Norton.
Jorgenson, D. (1962, November). Capital theory and investor behavior. American Economic Review, 2, 247-259.
Keynes, J. M. (1936). The general theory of employment, interest, and money. London, England : Harcourt Inc.
Krugman, P. (2015, June 03). Multipliers and reality. Krugman Blog.nytimes.com. Retrieved from https://krugman.blogs.nytimes.com/2015/06/03/multipliers-andreality/?_r=0.
Meyer, J., & Kuh, E. (1957). The investment decision. Cambridge, Mass.: Harvard University Press.
National Bureau of Economic Research. (2016 ). U.S. business cycle expansion and contraction.
Rinehart, C., & Rogoff, K. (2009). This time is different: eight centuries of financial folly. Princeton, New Jersey: Princeton University Press.
Samuelson, P. (2009, January 26). Interview, Newsweek.
Taylor, J. (2016, May). Can we restart the recovery all over again? American Economic Review, (106)5, 48-51.
Wall Street Journal, op-ed., passim, (2015). and editorial (May 7, 2016.).

Cited by

ISSN

2392-1641

Language

eng

URI / DOI

BazEkon - The Main Library of the Cracow University of Economics

Main menu