Thursday, August 10, 2023

Since I Was Born

Since I was born:

  • The US Consumer Price Index has increased by a factor of 10.3 (=inflation)
  • US population has increased by a factor of 1.87
  • Households by a factor of 2.55
  • Civilian employment has increased by 2.46 (women in the workplace.)
  • Manufacturing employment is down 18%.
  • US federal government spending by a factor of 62 
  • US GDP by a factor of 49.6
  • Real GDP by a factor of 6.2
  • Hence real US GDP per capita has increased by a factor of 3.3 
  • Average hourly earnings by a factor of about 12
  • World Population by 2.64 times
  • World per capita real GDP by 3.2 times.
  • China's population by a factor of 2.12
  • China's nominal GDP by a factor of 303 (not inflation-adjusted).

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