To: Luis Gonzalez
According to the Economic Report of the President, 1991; a chart showing Trade/GNP Ratio and National Productivity Growth indicates that, starting in 1973, productivity growth
declined as the trade/GNP ratio increased.
Real wages have declined because since 1973 we have converted to a service economy and lost manufacturing jobs:
manufacturing jobs paid more than service jobs, consequently, two-job households became necessary.
To: upcountryhorseman; 1rudeboy
1974 per capita income US $ 5,676.00
2002 per capita income US $30,941.00
American Institute for Economic Research Cost of Living Calculator results:
$5,676.00 in 1974 equals to $20,712.22 in 2002.
$5,676.00 equaled a $109.15 a week salary.
$30,941.00 equals a $595.02 a week salary.
Ten gallons of gasoline in 1974= $5.28, or 4.8% of weekly salary.
Ten gallons of gasoline in 2002= $15.10, or 2.5% of weekly salary.
Things ain't as you say they are.
51 posted on
03/22/2004 2:13:38 PM PST by
Luis Gonzalez
(Unless the world is made safe for Democracy, Democracy won't be safe in the world.)
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