- Sat Jun 01, 2019 3:01 pm
#116551
"The true wealth of a nation is measured by its capacity to deliver, in a sustainable w3ay, high standards of living for all of its citizens."
Joseph E. Stiglit...Nobel Prize Winning Economist
We live in a wonderful time where vast amounts of information is available to us. We need to avail ourselves of this knowledge more often. Many times we will find that what KNOW is true actually is not. Two of my favorite are
OECD.org
USAfacts.org
Let's look at a few3 "facts" we KNOW are true.
a. The Reagan Presidency
From 1947 to 1980 the USA grew at an annual rate of 3.7%. After "Voodoo Economics" from 1980 to 2017 the USA grew at an annual rate of 2.7%. Almost a 30% drop. It also ushered in higher deficits, bank speculation and the huge growth of corporate power. Deregulation of the financial industryled to the massive collapse of 2008.
b. Immigrants
Between 1995 to 2005 immigrants started 52% of all Silicon Valley startups. Immigrants also started more than 40% of Fortune 500 companies
c. Ranking of the USA
The World Bank has a human capital index measuring the investment a society makes in its people...health, education and the ability to survive and grow. The USA ranks 24th behind Singapore, Japan, Hong Kong and Korea. Canada ranks 10th. The USA ranks 40th in math, 24th in reading and 25th in science.
d. Work
Americans work1780 hours per worker, France-1514 hours. Germany-1356 hours. I have a friend who is a German national working in this country for a German firm. With his seniority, he gets 3 months paid vacation per year. USA growth has been about half of the average of the advanced countries since 2008.
e. Income Inequality
USA has greater income inequality than any other advanced country. The bottom o the population has not seen their wages increase, adjusted for inflation, in about 60 years. Women earn about 86% of men's wages, Blacks earn about 73% of white men's wages, Hispanics earn about 69% of white men's wages. Two dozen individuals own more wealth than all of the people in China, India and Africa combined.
f.
Joseph E. Stiglit...Nobel Prize Winning Economist
We live in a wonderful time where vast amounts of information is available to us. We need to avail ourselves of this knowledge more often. Many times we will find that what KNOW is true actually is not. Two of my favorite are
OECD.org
USAfacts.org
Let's look at a few3 "facts" we KNOW are true.
a. The Reagan Presidency
From 1947 to 1980 the USA grew at an annual rate of 3.7%. After "Voodoo Economics" from 1980 to 2017 the USA grew at an annual rate of 2.7%. Almost a 30% drop. It also ushered in higher deficits, bank speculation and the huge growth of corporate power. Deregulation of the financial industryled to the massive collapse of 2008.
b. Immigrants
Between 1995 to 2005 immigrants started 52% of all Silicon Valley startups. Immigrants also started more than 40% of Fortune 500 companies
c. Ranking of the USA
The World Bank has a human capital index measuring the investment a society makes in its people...health, education and the ability to survive and grow. The USA ranks 24th behind Singapore, Japan, Hong Kong and Korea. Canada ranks 10th. The USA ranks 40th in math, 24th in reading and 25th in science.
d. Work
Americans work1780 hours per worker, France-1514 hours. Germany-1356 hours. I have a friend who is a German national working in this country for a German firm. With his seniority, he gets 3 months paid vacation per year. USA growth has been about half of the average of the advanced countries since 2008.
e. Income Inequality
USA has greater income inequality than any other advanced country. The bottom o the population has not seen their wages increase, adjusted for inflation, in about 60 years. Women earn about 86% of men's wages, Blacks earn about 73% of white men's wages, Hispanics earn about 69% of white men's wages. Two dozen individuals own more wealth than all of the people in China, India and Africa combined.
f.