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Discussion: (2 comments)

  1. RM3 Frisker FTN

    Do these two quotes from above undermine your argument or did you suffer a typographical mistake?

    First quote, “From 1981-2000, the U.S. economy grew by an average of 3.4% a year.”

    Second quote, “The 1950s and 1960s — taxes were high, unions were strong, incomes more equal. And the U.S. economy grew by 3.7% a year. ”

    Both quotes cover a 20-year period, yet the high tax, strong union decades are quoted as having higher growth by 0.3%

    I think you have either inadvertently undermined your argument or suffered a typo. Hope it is a typo.

    1. BeardedCynic

      I don’t think its a typo or a undermining of the argument until and unless you isolate just those two sentences. A read of the rest of the article explains how the growth in the 1950s and ’60s was higher than in the ’80s and ’90s (*despite* the high taxes and strong unions) because of the fact that we’d just come out of a depression followed immediately by a global war which annihilated the industrial base of every other global superpower in the ’40s; there’d be no way in the ’50s and ’60s that we wouldn’t have surged ahead of the rest of the world given the circumstances of them working initially to simply rebuild their infrastructure after the massive losses of human and material capital they suffered during WWII… whereas we had merely suffered a depletion of human capital due to the low birth rates of the ’30s and the war casualties of the ’40s.

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