>In a chapter titled "The End of the Boom and the Neo-Classical
>Reaction," Shutt gives the following from the OECD National Accounts
>Statistics and IMF International Financial Statistics: GDP was 4.3%
>annnual average change between 1950 and 1973 and dropped to 2.4%
>between 1973 and 1995; Private consumption 4.3% fell to 2.6%
>respectively for the two periods; Fixed Capital formation 5.7%
>dropped to 2.1%, and consumer prices increased from 3.4% to 6.4%.
>What are figures from 1995 to 2005? That is have they recovered to
>the benchmarks of 1950 to 1973?
We went over this territory a few months ago. Growth rates are down if you compare them to the Golden Age. Looking at US data, if you started in the 1870s, like on this chart <http://www.leftbusinessobserver.com/GDPByDec.gif>, then it would show almost no trend one way or the other, except towards more stability.
Doug
