Robert J. Gordon
The Wall Street Journal
December 21, 2012
Nothing has been more central to America's self-confidence than the 
faith that robust economic growth will continue forever. Between 1891 
and 2007, the nation achieved a robust 2% annual growth rate of output 
per person. Unfortunately, the evidence suggests to me that future 
economic growth will achieve at best half that historic rate. The old 
rate allowed the American standard of living to double every 35 years; 
for most people in the future that doubling may take a century or more. 
The growth of the past century wasn't built on manna from heaven. It 
resulted in large part from a remarkable set of inventions between 1875 
and 1900. These started with Edison's electric light bulb (1879) and 
power station (1882), making possible everything from elevator buildings
 to consumer appliances. Karl Benz invented the first workable 
internal-combustion engine the same year as Edison's light bulb. 
This narrow 
time frame saw the introduction of running water and indoor plumbing, 
the greatest event in the history of female liberation, as women were 
freed from carrying literally tons of water each year. The telephone, 
phonograph, motion picture and radio also sprang into existence. The 
period after World War II saw another great spurt of invention, with the
 development of television, air conditioning, the jet plane and the 
interstate highway system.
The profound boost that these innovations gave to economic growth would 
be difficult to repeat. Only once could transport speed be increased 
from the horse (6 miles per hour) to the Boeing 707 (550 mph). Only once could outhouses be replaced by running water 
and indoor plumbing. Only once could indoor temperatures, thanks to 
central heating and air conditioning, be converted from cold in winter 
and hot in summer to a uniform year-round climate of 68 to 72 degrees 
Fahrenheit. 
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