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Author:   Nathan Edmonson
Publisher:   Transaction Publishers
Imprint:   Transaction Publishers
ISBN:  

9781412843058

ISBN 10:   1412843057
Pages:   190
Publication Date:   15 February 2012
Audience:   College/higher education ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   Not yet available  
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<p> Edmonson offers a unique perspective on a serious issue. ... Edmonson brings to bear his training as a professional economist along with extensive historical knowledge and impressive understandings of science and engineering topics. This is a valuable book for anyone wishing to go beyond the standard media debates about today's economy. --Arthur E. Kartman, San Diego State University <p> Technology Cycles and U.S. Economic Policy in the Early 21st Century by Nathan Edmonson stresses the importance of technology cycles in the formulation of effective counter-cyclical economic policy. The confluence of powerful inventions and innovations occurs episodically and leads to highly profitable investment opportunities and an upswing in economic activity. Conversely, after a sometimes substantial period of time, the technology-founded cycle wanes, and the number of productive investment opportunities falls, If, as in 1929 and 2007, a financial crisis occurs during such a downswing, traditional expansionary monetary policy is less effective in fostering growth and employment may eventually lead to bubbles and inflation. The book is interesting and ranges broadly over related issues such as recognizing the technology cycle, counter-cyclical fiscal policy, tax policy, industrial policy, the risk in predicting the future path of technology, the problems of plant and equipment, workers, and materials displaced by technology and recession. Recommended reading. --Richard D. Raddock, former member, Federal Reserve Board

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