Most of America's rural areas are doomed to decline
As jobs and incomes are relentlessly automated away, the bulk of consumers may eventually come to lack the income and purchasing power necessary to drive the demand that is critical to sustained economic growth.
Martin Ford • Rise of the Robots: Technology and the Threat of a Jobless Future
A lot of the growth of the United States, up through the 1970s or so, has been based on these three forms of low-hanging fruit. Each of them is pretty much gone today.
Tyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
For most of the 2020s, the driving economic force will be low growth in productivity, decreased opportunities for investment of accumulated capital, and low interest rates. It will also be a period of increasing unemployment, driven by continued decline in industry and stagnation in high tech as the result of the maturation of the core technology.
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