Word: rising
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Dates: during 1950-1959
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Gross National Product. Since 1947, the nation's real gross national product has expanded at an average annual rate of 3.6%, a rate of growth that if sustained would double U.S. production in 22 years. This increase compares with an average rise of 2.9% for the 1909-57 period. Using 1954 dollars, the C.E.D. got a result substantially different from the Council of Economic Advisers' recent report that the G.N.P. rate in the third quarter of 1959 was $481 billion. In the C.E.D.'s 1954 dollars it was only $431 billion...
...lest it get tangled in the argument between labor and management as to whether the gain was due to harder work or more capital and machines. C.E.D., venturing in, divided the real G.N.P. by the total production force, computed a 1929-57 productivity trend line showing an average 1.6% rise. The difference between a 1.3% labor-force rise and a 1.6% productivity rise, said C.E.D., produced "well over half of the growth in production in recent decades." In 1959 output per man is 60% greater than in 1929 despite shorter hours...
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 has been almost 2% and gave the average U.S. citizen in mid-1959 a real income 26% higher than in 1947 and 60% higher than...
...price indexes and converted them into 1954 prices all the way back to 1909. When plotted out, the trend line showed prices overall have gone up by 2.5% a year. Despite all the worry over price increases in the 1950s, the increase in this decade just about matched the rise from 1910 up to the outbreak of World...
During the Thirty Years' War, a Krupp sold guns to Protestant and Catholic alike, and from that day to the end of World War II the family was rarely false to the Shavian armorer's creed. The blood-and-iron saga of Kruppdom, including its rise from the ashes of World Wars I and II, is an intrinsically fascinating story. Unfortunately the drama is often dulled by German-born Author Norbert Muhlen's drab style. But he livens his chronicle with a series of personality sketches of the lonely, driven eccentrics who lorded it over the steelworks...