What Is Wrong with the West’s Economies?

Edmund S. Phelps, winner of the 2006 Nobel Memorial Prize in Economic Sciences, believes that many of us in the West "feel that our economies are far from just". When exp0laining the progress he mentions research by Assar Lindbeck, Stockholm University and IFN: "Two economists, Stanley Fischer and Assar Lindbeck, wrote of a “Great Productivity Slowdown,” which they saw as beginning in the late 1960s."