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Full Description
Exploring how sweeping demographic changes have resulted in the ineffectiveness of recent monetary and fiscal policies, this book identifies corrective actions that will start to reverse the trends of low economic growth and widespread government deficits.
The field of demographics does not focus on the economic impacts and the funding issues resulting from demographic change. Similarly, economics does not take into account demographic changes. The omissions in both fields are negatively impacting the nation: income reductions caused by demographic changes that have not been accounted for are so large that current fiscal policies are not able to mitigate them. The Puzzle of the American Economy: How Changing Demographics Will Affect Our Future and Influence Our Politics exposes the factors that are undermining the nation's prospects for improving the rate of economic growth and keeping up with citizens' needs for government-provided services.
Author Mark A. Pisano explains the hidden drag on the economy that has led to the ineffectiveness of recent monetary and fiscal policies, how uncertainty in economic policymaking is affecting America politically as well as at the individual household level, and why those who are adversely impacted are becoming politically disaffected. He also presents an agenda for corrective individual action. Readers will understand how the results of changes in demographics will last for decades and extend beyond the United States to many developed countries—particularly Japan and nations in Europe—as well as to some developing countries. The book will be of value to students studying macro and micro economics; those in public policy at all levels of government, public administration, and governmental budgeting; and anyone attempting to understand the current dilemma in economic policymaking and our disjointed political process.
Contents
Acknowledgments
Part One Lessons from Demography
Chapter 1 Introduction
Chapter 2 "The Wonderful, Terrible, Inscrutable Economy"
Chapter 3 Historical Change, Economic Behavior, and Demographics
Chapter 4 The Demographic Portrait
Chapter 5 Generation X and the Effects of Population Change
Chapter 6 What This Portrait Tells Us
Chapter 7 Implications for the Economy
Chapter 8 Implications for Government Budgets
Chapter 9 Long-Term Growth in America
Part Two What We Can Do
Chapter 10 In Search of a New Paradigm
Chapter 11 The New Rules of the Game for a New Pathway
Chapter 12 Managing Our Fiscal Commons
Chapter 13 No One Is Disposable
Chapter 14 Conclusion
Bibliography
Index
