Comments on: Real Gross National Income per Person http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/ Making the "Invisible Hand" Visible Thu, 29 Jul 2010 18:18:58 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: sun valey idaho http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/comment-page-1/#comment-26282 sun valey idaho Fri, 17 Oct 2008 05:56:23 +0000 http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/#comment-26282 <strong>sun valey idaho...</strong> Enter here for a chance to win the Complete Box Set of Harry Potter Books# 1 thru 7, a Harry Potter Collector Gold Pin and a copy of the 10th Anniversary Edition of Sorcerer’ s Stone. To enter leave a comment on their post telling them if you are a H... sun valey idaho…

Enter here for a chance to win the Complete Box Set of Harry Potter Books# 1 thru 7, a Harry Potter Collector Gold Pin and a copy of the 10th Anniversary Edition of Sorcerer’ s Stone. To enter leave a comment on their post telling them if you are a H…

]]> By: Barry http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/comment-page-1/#comment-25086 Barry Sun, 28 Sep 2008 19:57:02 +0000 http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/#comment-25086 Most object to demonstrating the growth of per capita income on the basis of their political agenda. They point to the statistics that show a much smaller per household income growth but purposely fail to point out that household size has substantially decreased and per capita real income has grown nicely. They almost never show income statistics that include transfer payments, such as the earned income credit, medicaid health coverage, food stamps, and the like, which actually make the conditions at the bottom far more survivable than the pure income statistics typically suggest. The overall real income statistic is further politically adjusted downward by overstating the inflation rate by failing to adjust the market basket for how real people have adjusted their real spending patterns. Inflation is further miss-stated by virtue of the fact that we compare apples to oranges, as when we compare a 1967 standard automobile that came without air conditioning, wore out in four years, had no tape deck or even FM radio, and got 14 MPG, to today's auto which has those features as standard and gets 23 MPG. The poor in the 1950s did not have autos, color TVs, DVD players, ipods, and paid a larger percentage of their limited income for food and clothing. Free and unfettered markets have created better conditions for the poor, the middle class and the rich - even if the richest rich are richer than the poor by a wider margin. The politics of class envy can make us make the wrong decisions which make everyone poorer. Most object to demonstrating the growth of per capita income on the basis of their political agenda.
They point to the statistics that show a much smaller per household income growth but purposely fail to point out that household size has substantially decreased and per capita real income has grown nicely.
They almost never show income statistics that include transfer payments, such as the earned income credit, medicaid health coverage, food stamps, and the like, which actually make the conditions at the bottom far more survivable than the pure income statistics typically suggest.
The overall real income statistic is further politically adjusted downward by overstating the inflation rate by failing to adjust the market basket for how real people have adjusted their real spending patterns.
Inflation is further miss-stated by virtue of the fact that we compare apples to oranges, as when we compare a 1967 standard automobile that came without air conditioning, wore out in four years, had no tape deck or even FM radio, and got 14 MPG, to today’s auto which has those features as standard and gets 23 MPG.
The poor in the 1950s did not have autos, color TVs, DVD players, ipods, and paid a larger percentage of their limited income for food and clothing.
Free and unfettered markets have created better conditions for the poor, the middle class and the rich – even if the richest rich are richer than the poor by a wider margin.
The politics of class envy can make us make the wrong decisions which make everyone poorer.

]]> By: priyanka http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/comment-page-1/#comment-22356 priyanka Fri, 01 Aug 2008 15:48:26 +0000 http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/#comment-22356 bery bad! i want a comparison between india and united states for national income data, per capita income, production in diferent sectors(industries), per capita consumption of steel power, petrol etc... bery bad! i want a comparison between india and united states for national income data, per capita income, production in diferent sectors(industries), per capita consumption of steel power, petrol etc…

]]> By: Patrick http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/comment-page-1/#comment-9019 Patrick Tue, 11 Dec 2007 08:08:35 +0000 http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/#comment-9019 @ Dan: I don't buy shadowstats.com's website. I mean that literally - I'm not going to pay someone $175 for a bunch of conspiracy theories. @ Dan:

I don’t buy shadowstats.com’s website. I mean that literally – I’m not going to pay someone $175 for a bunch of conspiracy theories.

]]> By: Everett http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/comment-page-1/#comment-3208 Everett Mon, 27 Aug 2007 15:11:12 +0000 http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/#comment-3208 We "import" illegal aliens? Surely you jest. We “import” illegal aliens? Surely you jest.

]]> By: kyle N http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/comment-page-1/#comment-3196 kyle N Mon, 27 Aug 2007 09:46:35 +0000 http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/#comment-3196 How accurate is our measure of population? I would be surprised if this is accurate as we have imported about 1.5 million poor people a year into the USA for the period of this graph. How accurate is our measure of population? I would be surprised if this is accurate as we have imported about 1.5 million poor people a year into the USA for the period of this graph.

]]> By: Dan Reale http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/comment-page-1/#comment-2577 Dan Reale Sat, 04 Aug 2007 22:01:24 +0000 http://www.visualizingeconomics.com/2007/07/22/real-gross-national-income-per-person/#comment-2577 Not buying it. See www.shadowstats.com Not buying it. See http://www.shadowstats.com

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