Long-run increases in living standards arise almost entirely from growing labor productivity. The variables attributed to long-term growth are: human capital, physical capital, and technological progress. However, often, other variables are attributed to the differences in growth rates: investment spending, education, research and development, infrastructure, political stability, and rule of law. With this in mind, analyze “Greening the Ghetto.” In doing so, be certain to discuss the impact(s) of at least one of the variable attributed to long-term-growth and at least one variable attributed to differences in growth rates. Use the key words, key concepts, and models above to support your analysis. Conclude by discussing how your analytic paper topic could result in redefine a new American economic agenda in the long-run.
Link for “Greening the Ghetto” is here: