Here is a question that Dan Minette may be able to answer quickly.
My goal is to get some grasp of the consequences of long term policies
by the two major US political parties.
A while back, Dan figured out the rate of measured economic growth in
each US political administration, excluding the first two years. By
excluding the first two years he avoided effects from the policies of
a previous administration. Thus, the rate of growth for the
Republican Eisenhower adminstration was determined for 1954 - 1960 and
for the Democratic Kennedy/Johnson administration was for 1962 - 1968,
counting those years inclusively.
Please start with the measured income of the US in 1948, or from
another base year for which information is readily available, perhaps
1928, but no more recent than 1952. The idea here is to generalize
beyond short term actions and look at long term trends and policies.
(Also, please use year 2000 dollars, or something like that in order
to enable people to exclude non-relevant price changes. In addition
please use median per capta US income rather than the average per
capta US income. As various people, especially Republicans, point
out, above a minimum, people appear to be more concerned with relative
income than absolute income.)
* What would be the current GDP and median per capta US at the
growth rate that Republican administrations achieved historically?
Presume they were the only administration in power since 1948 (or
whatever is the base year) and that they succeeded economically as
well as they did.
* What would be the current GDP and median per capta US at the
growth rate that Democratic administrations achieved historically?
Presume they were the only administration in power since 1948 (or
whatever is the base year) and that they succeeded economically as
well as they did.
* And for comparison, what is the actual current GDP and median per
capta US income?
--
Robert J. Chassell
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http://www.rattlesnake.com http://www.teak.cc
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