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To: Toddsterpatriot
Incidently, that cute little chart you have been posting everywhere? This is the one:

Another a poster on another thread check it out had this to say:

"The description on the NCPA site for your bar chart includes the following hint:

It is critical to adjust the figures for inflation in order to make a valid comparison. The price of many goods such as computers has fallen sharply. Since GDP data are calculated in money rather than volume terms, failure to account for price changes gives a distorted picture. For example, suppose the output of a product rose by 10 percent in terms of units while falling 10 percent in price due to higher productivity. Using nominal dollar figures makes it appear there was no increase in output. Using real data captures the increase.

What they have done, or proport to have done, is to do a GDP comparison based functionality and productivity. So if your home computer has the computing power of 1000 1940/50 era computers they have adjusted the numbers to make it equivalent to that much economic activity. The point is to say that if a 20 lbs electronic calculator sold for $100 (adjusted dollars - 2000) in 1940, then your HP scientific calculator which weighs only Ozs and does so much more may be worth $1500. We all know that in the real world the HP actually sells for ~$20 bucks (in 2000); but, that has never stopped some in our government from trying to adjust inflation for technology.

You've been busted.

558 posted on 03/03/2005 4:37:52 PM PST by William Terrell (Individuals can exist without government but government can't exist without individuals.)
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To: William Terrell
You've been busted.

Hardly. Read again.

Using nominal dollar figures makes it appear there was no increase in output. Using real data captures the increase.

What that means is the latest column uses todays numbers. You can argue about the older numbers.

Why don't you get a source that shows % of goods as a share of GDP for the historical data? Prove the graph wrong.

574 posted on 03/03/2005 6:58:54 PM PST by Toddsterpatriot (Protectionism is economic ignorance!)
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