Average Is Over

Average Is Over

Powering America Beyond the Age of the Great Stagnation

Book - 2013
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One of the World's most acclaimed economists delivers his magnum opus on the future of labor in America.

There are more rich people and more poor people in our country than ever before. That widening gap means dealing with one big, uncomfortable truth- The middle is growing thinner and thinner.

In this eye-opening book, globally renowned economist and bestselling author Tyler Cowen explains how this phenomenon emerged- High earners are taking ever more advantage of machine intelligence in data analysis in all its guises and achieving ever-better results. Meanwhile, low earners who haven't committed to learning, to making the most of new technologies, have poor prospects. Nearly every business sector relies less and less on manual labor for high-value jobs, and this fact is forever changing the world of work and wages. About three-quarters of the jobs created in the United States since the great recession pay $13.52 an hour or less. There is no longer a steady, secure life somewhere in the middle-average is over.

With The Great Stagnation , Cowen explained why median wages stagnated over the last four decades; in Average Is Over he reveals what the new features of this economy mean for taxes (they will go up for higher earners), government spending (Medicaid will become stingier), employee benefits (health-care insurance premiums will continue to go up), debt (it will be reduced by spending less money on junk and wasteful consumption), and education (students will not be well served by one system). Most importantly, Cowen identifies the best path forward for workers and entrepreneurs and provides readers with a road map to a new economic landscape.

Cowen's message is challenging and sober but ultimately exciting and even inspiring. In debates about our nation's economic future, the fact that average is over will be impossible to ignore. And Cowen's acute vision frames the opportunity for us all.

Praise for Tyler Cowen and The Great Stagnation

'An economist who is a wonderfully entertaining writer but also a deeply humane thinker.' James Surowiecki, Author of The Wisdom of Crowds

'Ventures where few economists have gone before.' Hugo Lindgren, New York

'Tyler Cowen may very well turn out to be this decade's Thomas Friedman.' Kelly Evans, The Wall Street Journal

'The Great Stagnation is one of the most talked-about books among economists right now.' Renee Montagne, Morning Edition, NPR

'Cowen's book . . . will have a profound impact on the way people think about the last thirty years.' Ryan Avent, The Economist

'The new 'it' book in Washington.' Brink Lindsey, Forbes

'The most debated nonfiction book so far this year.' David Brooks, The New York Times

Publisher: New York, New York : Dutton, [2013]
ISBN: 9780525953739
Characteristics: xii, 290 pages ; 24 cm


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Aug 20, 2015

Often annoying (he's put grandma in hovel without AC in central Texas to make her rent affordable), but some people think like this.

Dec 30, 2013

" Globally renowned economist Tyler Cowen ..." Ohhh, puuuuhhlease! Cowen is such a fraudster hack! Skimmed the book, which was nauseating enough, so I'll stick to the description remarks: "..high earners are taking ever more advantage of computers and achieving ever-better results. Meanwhile, low earners who haven't committed to learning the new technologies have poor prospects." Huh? Offshored jobs have disadvantaged humongous numbers of engineers, scientists, computer science and IT professionals, along with many other categories of professional and non-professional in America. That myth has been disproven over and over and over again by endless and verified studies! Cowen seems to have amnesia regarding the official four "jobless recoveries" we've experienced in America (unofficially six, but the disregard the two from the Reagan administration): whereby the jobs base (and tax base) is whittled down each time, with half or less jobs created to replace those jobs "lost" - - with half of those newly created jobs paying much less than those "lost" jobs. (I.e., jobs offshored, and insourced foreign replacement/scab workers. We are supposed to have Equal Employment Opportunity laws, but since the 1990s, entire divisions of Americans have been replaced with substitute foreign visa replacement workers - - in America - - clearly against the law!) [Cowen's faculty position is endowed by the Koch brothers, no mystery there!] Teresa Hartnett (Publishers Weekly) gives a brilliant and spot on review of this atrocity of a book. Her noting of the anti-progress trend is most important: American multinationals, with their vast offshoring of American jobs, de-industrialization of America, private equity/leveraged buyouts destroying jobs, R&D and companies (through asset stripping and loading targeted companies with colossal debt), massive hedge fund speculation ensuring economic fragility and devastation, privatization of schools/education ensuring the defunding of education, have worked to destroy all true forms of progress in this country!


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