Forget Comey:
Just Look at the Great Enrichment!
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- Before 1800, she writes, per capita income was flat, and had been flat forever. In fact you can see that per capita income was actually declining slightly in the 18th century in Britain while the Brits fought the Second Hundred Years War with the French. But then, after 1800 and the glorious victory at Waterloo, per-capita income started to rise, from £3 (in 2005 pounds) to £79 in 2017. That would be $4 per day compared to $3 in the U.S. in 1800, and $127 per day compared to $143 in the U.S. in 2017.
- The charts give me hope. Despite two hundred years of government by idiots we still seem to muddle through to ever rising per-capita income. So maybe it doesn’t matter whether President Trump is a genius or a bumbler after all.
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well DUH
look when the steam engine was invented...
then what happened afterwards.
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An energy slave is that quantity of energy (ability to do work) which, when used to construct and drive non-human infrastructure (machines, roads, power grids, fuel, draft animals, wind-driven pumps, etc.) replaces a unit of human labor (actual work). An energy slave does the work of a person, through the consumption of energy in the non-human infrastructure.
Just curious, how much of this can be attributed to inflation?
the effect of inflation.
in SPITE of that
think of it as
Government regulations cost Americans $13,000 per person each year.
Salaries go up when inflation goes up. They don't go up as fast, but they go up. That's because as the value of your money goes down (your first chart) your salary must go up in order to come close to maintaining the same standard of living. You need more money to buy the same amount of stuff.
Wikipedia: Per capita income or average income measures the average income earned per person in a given area in a specified year.
In today's fiat currency world, a chart showing increased income is also a chart showing the effects of inflation.
You have to adjust for inflation to get a more accurate picture.
And by the way, the greatest turn in your curve upward (where you mention the invention of the steam engine) happens around 1913, the year the Federal Reserve was founded and began inflating our currency.
the feds tried to make us poor.
technology swam upstream in spite of them.
by the way
The Steam Injun was invented in 1713
The matrix is real
Well, at least we have some hope whether you support -or don't- the government. And it isn't a mere thought, it's a sustained fact.
would you restate that please? I'm unsure what you mean.
Sorry, my english is kinda washed off but: Despite all the bad administration of past horrible politics, the increase of per capita income just keep rising, i find that very interesting and quite satisfaying.
yup...technology is the reason too.
anyone who is anti tech is anti human