{"id":8139,"date":"2013-02-25T09:00:02","date_gmt":"2013-02-25T14:00:02","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=8139"},"modified":"2013-02-25T08:40:49","modified_gmt":"2013-02-25T13:40:49","slug":"should-we-stop-worrying-about-economic-growth","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2013\/should-we-stop-worrying-about-economic-growth\/","title":{"rendered":"Should We Stop Worrying About Economic Growth?"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2013\/02\/022513_1337_ShouldWeSto1.png\" width=\"640\" height=\"473\" \/><\/p>\n<p>Both Democrats and Republicans agree that low growth rates in the United States are a concern. They&#8217;re wrong writes Scott Winship:<\/p>\n<ul>\n<li>As a country becomes wealthier it becomes harder to maintain high growth rates, because the initial base that is growing has become larger.<\/li>\n<li>Rather than growth rates what we should actually think about is the <em>absolute <\/em>economic gain that we see each year.<\/li>\n<li>For example from 1959-1969 the economy grew at 3% a year, leading to an absolute (inflation adjusted) increase in income of $600 per person. From 2000-2007 the economy grew at 1.4% &#8211; less than half the rate \u2013 but led to income gains of $650 per person. From this perspective then America&#8217;s economic growth is doing just fine.<\/li>\n<li>Moreover there are intangible gains we now have that aren&#8217;t measured by GDP. We have air conditioning, air travel, and smartphones \u2013 once considered absolute luxuries now available to the common man.<\/li>\n<li>The focus on growth also takes away focus from the problems of income inequality within the United States.<\/li>\n<\/ul>\n<p>The full article is a lot longer and goes into much more detail. You can find it <a href=\"http:\/\/thebreakthrough.org\/index.php\/journal\/issue-3\/the-affluent-economy\/\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/thebreakthrough.org\/index.php\/journal\/issue-3\/the-affluent-economy\/\">The Breakthrough<\/a><\/p>\n<p>Via: <a href=\"http:\/\/marginalrevolution.com\/marginalrevolution\/2013\/02\/our-obsession-with-growth-rates-by-scott-winship.html\">Marginal Revolution<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Both Democrats and Republicans agree that low growth rates in the United States are a concern. They&#8217;re wrong writes Scott Winship: As a country becomes wealthier it becomes harder to maintain high growth rates, because the initial base that is growing has become larger. Rather than growth rates what we should actually think about is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2013\/02\/022513_1337_ShouldWeSto1.png","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/8139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=8139"}],"version-history":[{"count":2,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/8139\/revisions"}],"predecessor-version":[{"id":8141,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/8139\/revisions\/8141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/8138"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=8139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=8139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=8139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}