US Economic Policy in the 21st Century

This book addresses major economic problems affecting the United States and proposes policy reforms to target them. The authors use a broad survey of economic research to conduct an evidence-based assessment of four economic issues affecting the US and other developed nations: slowing economic growth, unsustainable public debt increases, widening wage inequality, and climate change. Finding that the problems are interconnected and should be dealt with in a comprehensive manner, the authors explain how current policies have contributed to the issues and make recommendations on policy reforms. All four issues are examined in one place and the resulting policy recommendations form a consistent plan to mediate the problems simultaneously. Providing a comprehensive approach to some of economic policy's most difficult problems, this book will be an excellent resource for students and researchers interested in macroeconomic theory, public sector economics, international economics, labor economics, and environmental economics.


Alexandros Mourmouras is division chief in the Asia and Pacific department of the IMF where he has served as mission chief for Vietnam, Singapore and Malaysia. He was previously division chief in the IMF Institute for Capacity Development and economist in the Fund's Policy Development and Review and Fiscal Affairs Departments. He holds a Ph.D in economics from the University of Minnesota and a BA degree from Harvard College (US).

Peter Rangazas is Professor of Economics at Indiana University-Purdue University Indianapolis (US). He regularly publishes in academic economics journals including the American Economic Review, Review of Economics and Statistics, Journal of Monetary Economics, and Journal of Economic Growth. He is coauthor of Economic Growth and Development: A Dynamic Dual Economy Approach (2018, 2^nd Edition) and The Macroeconomics of Corruption: Governance and Growth (2021, 2^nd Edition) published by Springer.