Half a billion Americans?

From The Economist print edition ^ | August 22, 2002 | The Economist print edition

[jjm2111]

Interesting comparison. I've always wondered what living in those days would be like.

[RightWhale]

If you were alive back then, how good is your memory

I was there. We had a Silvertone TV and a 55 Chevy [new.] We drove across the country and back, Route 66, like Jack Kerouac and everything. It was a good time.

[Texas2step]

Apparently the folks discussing America in the 50's vs. America in the 2000s were not around in the 50's, or they are on another planet now. :-)

Look around you people. How many people in the 50's had 4 color televisions in their house? How many had 2 cars, or even 3 or 4? How many people lived in a house with A/C? How many lived in a 4 bedroom/3 bathroom/2 car carage?

In the 50's, only the very wealthy had such luxuries. I'm not going to look up the numbers, but if I was a betting man, I'd go big that the percentage of people having the above luxuries is triple or even more than what it was in the 50s.

In the 50s, middle class was a 3 bdrm house with a carport (if that). A single television, and a car. That was middle class.

Now, that would be considered "poor" or having a "nonliveable" wage. Our problem today is that if we aren't rich we think we're poor, and even a few of the rich people think their poor, or at least just above poverty.

Poor in the 50's was living on a farm somewhere in a rundown shack and growing your own food. Poor in the 50's was praying that God would provide shoes for your children, somehow, someway.

Today, we think we're poor if we can't afford to eat out three times a week. We think we're poor if we can't afford two new cars. We think we're poor if we can't buy Johnny a new Nintendo Game Cube for his birthday.

Get a grip people. We're not poorer now than we were in the 50's. We're spoiled. We're rotten. We're whiners and comlainers. We're morally bankrupt, but we sure ain't poor!

T2s

[MadIvan]

What was better in the 1950's was the cultural mores, by and large. The kind of nonsense that was set loose in the 1960's was considered outlandish, shameful, if not prohibited.

In many ways I resent the baby boomers of the Bill Clinton ilk for ruining what in many ways was a clean, beautiful world.

Regards, Ivan

[MadIvan]

What was better in the 1950's was the cultural mores, by and large. The kind of nonsense that was set loose in the 1960's was considered outlandish, shameful, if not prohibited.

In many ways I resent the baby boomers of the Bill Clinton ilk for ruining what in many ways was a clean, beautiful world.

Regards, Ivan

[Brian Allen]

<< ... Inflation is necessary for sustained economic growth ... >>

"Laughable?"

Well perhaps.

For I get a laugh, it is true, from my knowledge of Austrian and Chicago School Economics and from the great wisdom of my mentors, Adam Smith and Professor Hayek and Frederic Bastiat, Ludwig and Margit von Mises, Murray Rothbard, Henry Hazlitt and Milton and Rose Friedman and the like.

And I sometimes laugh hysterically at the mewlings, posturings and pathetic pretences of the "economics" philosophers who spew forth Galbraithian and Keynesean crap under the delusion that any of THEM knows anything about economics.

But everything you say about the Economics Science -- and particularly about the feral-gummint overseen criminal activity that willfully counterfeits and debases Our Beloved FRaternal Republic's currency and insidiously increases the amount of Our Nation's Wealth -- the creation and the property of America's [And therefore of the world's] most creative, innovative, productive and industrious Citizens -- able to be be confiscated and squandered by our "trusted" servants is not at all funny.

Nope.

Not at all.

Just Absolute Bullshit!

[andy_card]

That was certainly a bizarre response. Moderate inflation increases the supply of capital, which enables investment, and makes it easier to service debt. As long as the economy grows faster than the rate of inflation, I'm not sure why you're so worried about the "debasing" of our nation's currency. All it does it accelerate growth, while making the economy more stable.

[Age of Reason]

degrees handed out to males . . . ."earned" by females

Good catch.

[Age of Reason]

Since the 1950's, I've seen America's population double and our freedom's halved.

Freedom is the greatest prosperity.

[nopardons]

That is the ONLY legitimate " better ", that can be said. Of course, that also includes the theatre, music, books, movies, and T.V. ! The " culture " was better , because morality was better.

Everything else stated, by others , was as seen through rose colored galsses / hazy smoke and mirrors. :-)

[nopardons]

You're absolutely incorrect and your benighted posts, belie the factual truth. For example, you have NOT seen your freedoms halved. You have NOT lost ; you've gained.

You no doubt don't fall into that strata ; however, in the 1950's, the top 5 % were taxed at 90 % ( NINETY PERCENT INCOME TAXES ! ) ; that is no longer the case. People went into debt, for simple health procedures like giving birth; that is no longer the case. The reason that health care is now so expensive, is because now, most companies give free ( well, as we both know, it isn't really " free ", but you know what I mean ) health insurance. That boosts the prices for everyone else. I could go on ; however, you are not only blinkered to the truth, you don't even have a tenuous grasp of the historical facts ... so I shan't bother.

You would regonize " freedom ", if it bit you on the nose and whacked you over the head with a 2 X 4 !

[Age of Reason]

Do we have more laws controlling our behavior now or in 1950?

[Age of Reason]

The reason that health care is now so expensive, is because now, most companies give free ( well, as we both know, it isn't really " free ", but you know what I mean ) health insurance. That boosts the prices for everyone else.

It's late, and I've had a few glasses of wine--but I don't see how companies paying for health insurance raises the price of health insurance for people who aren't on company plans.

Am I really that drunk or . . . .

Anybody?

[nopardons]

We have more about some things and far less about others. You figure it out. LOL

[nopardons]

If you are admittedly tipsy, then you shouldn't be responding to any threads .

That you can't comprehend such a remarkably simple thing, drunk or sober, is a problem. What I said is absolutely true. Ask someone else to enlighten you, this isn't my problem. :-)

[Age of Reason]

More laws now or in 1950?

More crowding now or in 1950?

More rationing now or in 1950?

[Age of Reason]

Please, someone, please explain to me the meaning of this nopardons post to me:

"The reason that health care is now so expensive, is because now, most companies give free ( well, as we both know, it isn't really " free ", but you know what I mean ) health insurance. That boosts the prices for everyone else."

Can someone translate that for me?

[Misterioso]

For a realistic appraisal of the detrimental effect of inflation, see George Reisman's recent article:

http://www.mises.org/fullarticle.asp?control=1024&month=47&title=WorldCom+as+Piker%3A+Profit+Inflation+by+the+U%2ES%2E+Government&id=47

[Misterioso]

Oh oh -- too long; sorry.