Key Points from Chart 3 and Commentary Net Exports (Trade) was not responsible for the strong GDP growth of the 1950s and 1960s. Since then, however, there have been periods when trade has weighed heavily…
Month: April 2022
Chart 2: Sources of Per Capita GDP Growth
As a starting point for our analysis of the declining performance of the US economy, Chart 2 shows real per capita GDP growth broken down into four contributing sources: (1) Productivity, (2) Average Hours, (3)…
Chart 1: Measures of US Economic Performance
By almost any objective measure, the performance of the US economy has deteriorated sharply over the last five decades. Real GDP growth (BEA Table 1.1.1), shown by the black line, averaged 4% in the post-war…