The Economic Transformation of the United States, 1950-2000 : Focusing on the Technological Revolution, the Service Sector Expansion, and the Cultural, Ideological, and Demographic Changes

Annotation This book provides a detailed analysis of U.S. economic transformation in the last 50 years, including the principal drivers for economic growth, U.S. demographic transformation, and the changing sector structure of the U.S. economy. Economic Transformation of the United States, 1950-2000, provides contemporary and historiƯcal contexts to illustrate how technological innovation and the changing American ideology play a role in the process of U.S. economic transformation. It describes the services sector in which one set of service industries is indentified as ""wealth providers"" and another set as ""job providers."" Annotation This Book Provides A Detailed Analysts Of U.s. Economic Transformation In The Last 50 Years, Including The Principal Drivers For Economic Growth, U.s. Demographic Transformation, And The Changing Sector Structure Of The U.s. Economy. Economic Transformation Of The United States, 1950-2000, Provides Contemporary And Historical Contexts To Illustrate How Technological Innovation And The Changing American Ideology Play A Role In The Process Of U.s. Economic Transformation. It Describes The Services Sector In Which One Set Of Service Industries Is Indentified As Wealth Providers And Another Set As Job Providers. Foreword -- List Of Figures -- List Of Tables -- Acknowledgments -- Introduction -- Part One: Perspectives On Economic Transformation -- Chapter 1 -- Two Principal Drivers For U.s. Economic Transformation -- 1-1. Information Technology And New Structural Shift -- 1-1-1. Information Technology Revolution -- 1-1-2. Effects Of Information Technology On The U.s. Economy -- 1-2. Historical Perspectives On Economic Transformation -- 1-2-1. American Ideology Promotes Economic Transformation -- 1-2-2. Evolving American Capitalism -- * Earlier Stage Of Capitalism -- * Stage Of Mature Industrial/financial Capitalism -- * Stage Of National Capitalism -- * Stage Of Security Capitalism -- * A New Stage Of Institutional Capitalism -- 1-2-3. The Stages Of Economic Growth -- Chapter 2 -- Theoretical Perspectives On Economic Transformation -- 2-1. Basic Growth Equation -- 2-2. Growth Accounting Model -- 2-3. Dynamics Of Knowledge-technology Innovation -- 2-3-1. An S-shaped Growth Curve --^ 2-3-2 .strategic Inflection Points 67 * An Example: The U.s. Computer Industry -- 2-3-3. The Kozmetsky Effect -- * Knowledge And Technology -- Trans-disciplinary Knowledge Generation -- Knowledge-based Businesses -- Tacit Knowledge And Technology -- Disruptive And Sustainable Technology -- * Tools And Implementation -- Science And Technology Commercialization -- Concurrent Engineering -- 2-4. A Summery Of Chapter 2 -- Part Two: Economic Growth Of The United States -- Chapter 3 -- Performance Of The U.s. Economy -- 3-1. Growth Potential And Actual Performance -- 3-2. Increasing Productivity Of The U.s. Economy -- 3-3. Relationship Between Unemployment Rate And Inflation Rate -- Chapter 4 -- World Oil Price And Its Affect On The U.s. Economy -- 4-1. World?s Production Of Crude Oil -- 4-2. World?s Demand For Crude Oil -- 4-3. Net Imports Of Crude Oil To Oecd Nations -- 4-4. Oil Prices And U.s. Economy -- Part Three: Demographic Transformation Of The United States Introduction --^ Chapter 5 -- U.s. Population Estimates And Projections -- 5-1. Population Expansion -- 5-2. Ethnic Distribution -- 5-3 Immigration -- 5-4. Regional Distribution -- Chapter 6 -- U.s. Population In The Post Transitional Period -- 6-1. Vital Parameters -- 6-2. The Age Structure -- 6-3. The Three Cohorts -- 6-4. A Comparison Of Total Fertility Rates Of Developed Nations -- Chapter 7 -- The Intellectual Quality Of The U.s. Population -- 7-1. Labor Participation And Employment -- 7-2. Educational Attainment Of U.s. Population By Ethnic Group And Gender -- 7-3. Regional Distribution Of Educational Attainment -- 7-4. Educational Attainment Of Immigrants -- Chapter 8 -- Increasing Personal Income And Increasing Inequality -- 8-1. Personal Income Per Capita And Hourly Earnings Of American Workers -- 8-2. Income Distribution Of Households And Poverty Status Of Families -- * Income Distribution Share Of American Households -- * The Gini Ratio Of Racial Groups --^ * The Poverty Status Of American Families -- Chapter 9? The?creative And Innovative Class? -- 9-1. The Emerging Creative And Innovative Class -- 9-2. Increasing Demand For Knowledge Workers -- 9-3. Education Attainment Generates Income Gaps -- A Summary Of Part Three -- Part Four: The Transformation Of The Sector Structure Of The U.s. Economy -- Chapter 10 -- The Changing Aggregate Demand Of The U.s. Economy -- 10-1. Consumption And Saving -- 10-2. Gross Private Investment -- 10-3. Government Spending And National Debt -- 10-4. Exports -- 10-6 Summary -- Chapter 11 -- The Evolution Of Sectors In The U.s. Economy -- 11-1. Introduction To An Analysis Of Sectors? Evolution -- * Measurement Of Value-added And Data Source For The Analysis -- 11-2 Sectors? Contribution To The U.s. Economy -- 11-3. The Goods-producing Sector -- 11-3-1. Durable-goods Manufacturing -- 11-3-2. Non-durable-goods Manufacturing -- 11-4. The Services-producing Sector --^ 11-4-1. Transportation, Communications, And Utilities -- 11-4-2. Finance, Insurance, And Real Estate -- 11-4-3. The Services Industry -- 11-5. New Naics Sectors And Their Contributions To The -- U.s. Economy -- 11-6. The It-producing Industry And The It-using Industry -- 11-6-1. Contributions By The It-producing Industry -- 11-6-2. Contributions By The It-using Industry -- 11-7. Summary -- Part Five: The Transformation Of The Financial Services Sector Of The U.s. Economy -- Chapter 12 -- Transformation From Financial Turbulence To Financial Engineering -- 12-1. The Federal Reserve And Monetary Policy -- 12-2. The S & L Insurance Mess -- 12-3. Financial Engineering -- 12-4. Information Technology Speeds Up Financial Innovations -- Chapter 13 -- Changing Portfolio Of American Households? Assets -- 13-1. Disposable Income And Net Wealth Of American Households -- 13-2. Assets Portfolio Of U.s. Households And Nonprofit Organizations --^ 13-3. Liabilities Of U.s. Households And Nonprofit Organizations -- Chapter 14 -- Transformation Of U.s. Stock Markets -- 14-1. A Brief Overview Of U.s. Financial Markets -- 14-2. The Stock Markets Helps The Investment-led Economic Expansion -- 14-3. The Broadening Base Of Equity Shareholders -- 14-4. The Long-term Trend Of U.s. Stock Markets -- 14-5. Volatility Of The U.s. Stock Market -- * Stock Market Crashes -- The 1929 Stock Market Crash -- The 1987 Stock Market Crash -- The 1990s? Stock Market Mini-crashes -- The First Bear Market Of The New Century -- * Inter Day Changes Of The Dow Jones And Nasdaq Index -- * Technology Industries In The Stock Markets Of 1997-2002 -- 14-6. Bull And Bear Markets Of The United States Since 1929 -- Part Six: Concluding Remarks -- * Rethinking The Strength Of The U.s. Economy -- * Reshaping Relationships Among Economic Variables -- * Restructuring For A New Phase In The High -- Mass-consumption Stage Of Economic Growth -- References -- Index. George Kozmetsky And Piyu Yue. Includes Bibliographical References (p. 485-488) And Index.