GDP Growth rates per decade

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I have heard Thom mention that the our economy grew at higher rates per decade starting in the 40's and going all the way through the 70's, but I have been searching for this information and I can't seem to find it. As you know I am in a heated debate with a knucklehead that thinks life would be grand if we had a libertarian president and congress. I am trying to find facts to back up my argument as opposed to opinions, so any help would be great. Thanks in advance - and I know I could probably just read this whole blog, but I quite honestly don't have time, so if someone cares to help me I would really appreciate it.

SUNDVLMIKE's picture
SUNDVLMIKE
Joined:
Jul. 31, 2007 4:01 pm

Comments

http://www.tradingeconomics.com/united-states/gdp-growth

Set the start date to 1947.

The trend is obvious. The causes are not entirely conservative policies. Some are technological.

Phaedrus76's picture
Phaedrus76
Joined:
Sep. 14, 2010 8:21 pm

Just to add to the information GDP is not necessarily an indicator of economic health. The rise in 1983 is a perfect example, as is 2011. In both cases layoffs and wage erosion led to a rise in corporate profits and stock prices, making GDP "rise".

doh1304's picture
doh1304
Joined:
Dec. 6, 2010 10:49 am

Let me just add something about the eighties. This is a time when you had huge profit and productivity gains but nearly flat wage growth. As GDP grows, that usually is a good thing for most people. Yet due to free trade policies and rising inequality, huge numbers of people now get left behind. The gains from GDP growth over the last 30 years is really astonishing unequal and unparrelled.

Dr. Econ's picture
Dr. Econ
Joined:
Jul. 31, 2007 4:01 pm

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