Word: beene
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Dates: during 1950-1959
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The answer to that key question has long been a subject of controversy because most Government and private statistics do not take into account such factors as price rises, and because they are based on arbitrarily selected short periods of years. Last week the privately financed Committee for Economic Development...
To avoid the illusion that the economy is growing faster than it really is when prices are rising, the C.E.D. plotted the gross national product back to 1909 in terms of a "constant dollar" based on the value of the dollar in 1954, when it was considered comparatively stable. Only...
Industrial Production. Since 1947, the volume of production from U.S. factories and mines has been through three separate phases. Up until 1953, the period influenced by the Korean war, it expanded at a rate of 5% a year. From then until mid-1957 it grew less rapidly-at a rate...
Labor Force. In employment, the C.E.D. found that for 30 years there has been a remarkably uniform 1.3% increase in the labor force year after year, with the only big bulge above the trend line in World War II due to the influx of the old, the young, and married...
Disposable Income. After allowing for prices and higher taxes, has real income kept pace with productivity? Yes, said C.E.D. Using its 1954 constant-dollar test, and allowing for steeper taxes, C.E.D. found that from 1929 to 1957 per capita disposable income also rose 1.6% a year. Since 1947, the rise...