This book is the study of two major economic puzzles emerged in the beginning of 21st century. The first puzzle is the productivity growth slowdown in the United States and Europe while the second puzzle is the fast economic growth of China and other emerging economies. The productivity slowdown in the advanced countries and fast economic growth in the emerging economies have far-reaching effects on the living standard of their people.In the advanced countries people are facing miseries of unemployment, income inequality, rising debt and falling per capita income while in the emerging economies people are reaping benefits of prosperity in the shape of rising per capita income, jobs opportunities and and overall prosperity.These diverging trends have created a complex puzzling scenario,that needs in-depth comparative analysis.Why are advanced economies facing recurring recessions? why emerging economies are growing fast? This book has explored the answers of these questions.The author does hope that this book will equally be useful for the teachers,students, researchers and general readers.It will also add a new piece of knowledge in the existing body of economic literature