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What is very interesting is that this increase occurred in a year when GDP figures indicate healthy economic growth. bullet This shows the increasing ineffectuality of GDP growth as a predictor of poverty rates. And it is not only true for this bullet year, but is part of a larger, fifty year trend in the relationship between GDP growth and poverty. This relationship, which was very strong before the fifties or so, grew weak during the 80's and 90's and seems to have completely broken down now. The policy implications of this are that we are unlikely to gain any further bullet significant poverty reduction from economic growth. Such is the opinion of some policy experts, at least, such as Richard Freeman of the National Bureau of Economic Research at Harvard. "And that really makes one pause as to whether we're in a totally new historical situation in which simply making the economy work well, creating lots of jobs and growth of GDP, that doesn't seem enough now, for the first time in our history, to translate into better wages for normal people."
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