Monday, January 30, 2012

60 Years of Economic Change in 1 Graph


Read and see it at The Atlantic
Where Did All the Workers Go? 60 Years of Economic Change in 1 Graph
by Derek Thompson
(h/t Lambert Strether at Naked Capitalism)

Short answer — from making stuff to services.

5 comments:

Ken said...

Trying to figure out how he has gov't at all levels at 13.8 percent of GDP, while all other sources I look at show Fed gov't alone near 40 percent ... what am I missing?

TomatoBasil said...

Ken, Transfer payments such as Social Security, Medicare, and Unemployment don't contribute to the Government Portion of GDP.

Ken said...

OK, that clears it up .. thanks.

Crake said...

Unrelated - sorry. Anyone want to contribute to the discussion on deficits do not matter at Motley Fool:

http://www.fool.com/investing/general/2012/01/30/why-the-deficit-isnt-a-problem.aspx

Adam2 said...

Awesome job Crake.

Clear concise and to the point. One caveat. The critics might say that the Fed is monetizing the debt.

The reply to this is? ... I know but want to see if you do.