Issue No.07 - July (1995 vol.28)
DOI Bookmark: http://doi.ieeecomputersociety.org/10.1109/2.391043
We are the first generation of Americans who think that their children will not live substantially better than we do. In the United States, national output has been growing very slowly over the past twenty years, and the average real wage has been stagnant. While economists disagree on many things, they do agree that they don't understand this slowdown in national productivity. Looking back at the economic history of the US, this article suggests that the postwar emphasis on science and technology came perhaps at the expense of the engineering skills--the attention to detail--so critical to US productivity. It takes a hard look at the oft-heard argument that improved education and increased R&D and investment are panaceas for stagnant economic growth. Above all, the author urges us to place our economic prejudices under the macroscope, to not let our predispositions blind us to the details of national productivity.
Ralph E. Gomory, "National Productivity and Computers", Computer, vol.28, no. 7, pp. 66-72, July 1995, doi:10.1109/2.391043