4 ms·

Well, the simple fact is that the above quote from the article is completely wrong. The 80ies was one of the longest periods of sustained US GDP growth (and th

by catzaa 17y ago

Well, the simple fact is that the above quote from the article is completely wrong. The 80ies was one of the longest periods of sustained US GDP growth (and the 40ies&70ies weren’t that magical). During the 80ies the USA tacked on the equivalent of Germany’s GDP to itself. This article is poorly written and a waste of time. I suspect that the author’s motivations for it are more political than it is economical. http://www.blogmybrain.com/stock_apps/graphical_economy/NIPA%20-%20Domestic%20Product%20and%20Income/6/1/a/Real+Gross+Domestic+Product%2C+Chained+Dollars+%5BBillion+Dollar%5D/____Gross_domestic_product http://www.blogmybrain.com/stock_apps/graphical_economy/NIPA... http://investintaiwan.nat.gov.tw/en/env/stats/gdp_growth.html http://investintaiwan.nat.gov.tw/en/env/stats/gdp_growth.htm...

bokonist 17y ago
The business cycle has since the 1970's has been a bit worse than the cycle from '45 to 75. Nothing like the current financial crisis happened during that time. I don't know how the overall growth rates compare. GDP calculations are full of subjective assumptions. I think there is some truth to the statement that the rate of economic growth has slowed, but that's a much longer argument, and not relevant to my original point which was about the business cycle.
- catzaa 17y ago
  > The business cycle has since the 1970's has been a bit worse than the cycle from '45 to 75. Nothing like the current financial crisis happened during that time. Nothing like the current financial crises happened since the 1930ies. Then again, the structure of the economy radically changed since that time (think globalisation). > I don't know how the overall growth rates compare. GDP calculations are full of subjective assumptions. The 80ies and the 90ies was one of the best and longest periods of economic growth for the USA. Since 1982 (before the current mess) there was only a small recession in 1990 and a quarter long one in 2001. GDP is probably one of the least subjective measures that there is. I don’t know what other measure would be less objective. You also seem to ignore the extremely high inflation in the 1970ies.

by catzaa 17y ago

bokonist 17y ago

The business cycle has since the 1970's has been a bit worse than the cycle from '45 to 75. Nothing like the current financial crisis happened during that time. I don't know how the overall growth rates compare. GDP calculations are full of subjective assumptions. I think there is some truth to the statement that the rate of economic growth has slowed, but that's a much longer argument, and not relevant to my original point which was about the business cycle.

catzaa 17y ago
> The business cycle has since the 1970's has been a bit worse than the cycle from '45 to 75. Nothing like the current financial crisis happened during that time. Nothing like the current financial crises happened since the 1930ies. Then again, the structure of the economy radically changed since that time (think globalisation). > I don't know how the overall growth rates compare. GDP calculations are full of subjective assumptions. The 80ies and the 90ies was one of the best and longest periods of economic growth for the USA. Since 1982 (before the current mess) there was only a small recession in 1990 and a quarter long one in 2001. GDP is probably one of the least subjective measures that there is. I don’t know what other measure would be less objective. You also seem to ignore the extremely high inflation in the 1970ies.