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Los Angeles, California, United States
The blog 'Breaking Bread' is for a civil general discussion, like you might have at the dinner table with guests. The posts 'Economics Without the B.S.' are intended for a general audience that wouldn't have to know the difference between a Phillips Curve, a Laffer Curve, or a Cole Hamels Curve. Vic Volpe was formally educated at Penn State and the University of Scranton, with major studies in History, Economics and Finance, and Business; and, is self-educated since by way of books and on-line university courses. His practical education came from fifty years of work experience in the blue-collar trades as well as a white-collar professional career -- a white-collar professional career in production and R&D. In his professional career and as a long-haul trucker, he has traveled throughout the lower forty-eight. From his professional career alone he has visited many manufacturing plants in the United States, Europe and China. He has lived in major metropolitan areas and very small towns in various parts of the United States. He served three years with the U.S. Army as an enlisted man, much of that time in Germany.

Friday, October 30, 2015

PRODUCTIVITY RATES IN THE U.S. from 1820 to Present

GROWTH/PRODUCTIVITY RATES IN THE U.S.

 from 1820 to Present

Economics Without The B.S.**: 

[**  Double entendre intended.]


 THE BIG QUESTION:  (I know why the 1940s are #1.)  Why are the 1960s head and shoulders above every other decade in American history?  About 40% more productive than the 1980s and about 70% more productive than the 1990s.  And it is not due to post-WWII factors, the Vietnam War build-up, or women entering the workforce in mass.

GROWTH/PRODUCTIVITY RATES IN THE U.S. from 1820 to Present

[Real GDP per capita, in 2009 $’s; factors out the effects of inflation and population growth.

1.  1940s – 40%                      [Hint:]*  The Generations
2.  1960s – 35%                                   Greatest Generation
3.  1870s – 28%                                   Silent Generation
4.  1980s – 25%                                   Baby Boomers
5.  1970s – 25%                                   Generation X
6.  1920s – 24%                                   Millennials
7.  1850s – 24%
8.  1880s – 23%
9.  1990s – 21%
10. 1950s – 19%
11. 1910s – 14%
12. 1840s – 15%
13. 1930s – 13%
14. 1830s – 9.7%
15. 1890s – 9.0%
16. 1820s – 8.1%
17. 1860s – 7.6% 
18.  2000s – 5.5%
19. 1900s – 5.0%
20. 2010s – 4.8%      (for 5 years) 

 *  And if you need another hint, go back to YouTube and pull up President Kennedy in Houston, Texas in 1962 explaining why we are going to the Moon.
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