Wednesday, December 28, 2011
U.S. Real Productivity 1947-2010
It seems as if the United States has become much more productive over time. Using data from the BLS I use 1947 as a baseline of 100 and adjusted for yearly increases in productivity. The United States is 4 times more productive than we were in 1947! The greatest gains were seen in the 1990's. People argue that tax rates were higher and we still had a great economy during this time period. However, I would argue we had a great economy despite high taxes. People forget the technological revolution we had during this time period. What is interesting is that we still seem to have modest increase in productivity.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment