According to Professor Robert Gordon of Northwestern University, what are the four "headwinds" facing the U.S. economy, and how do they interact with innovation?

Answer 1

According to Professor Gordon, the U.S. economy is facing the four headwinds of demographics, education, debt and inequality. Each of these reduces the potential growth of the U.S. economy. He reports that the U.S. has been incredibly innovative in the past 150 years, which has exponentially increased growth. But he argues that in the future, even if the U.S. is as innovative as it has been in the past 150 years, growth will be cut in half. And if innovation is not as powerful as it has been, then growth will be even lower, and the economy will suffer.