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Trivia Tidbit Of The Day: Part 41 -- Upward Mobility.

ON CHILDREN BEING BETTER OFF THAN THEIR PARENTS-

The rate of productivity growth determines how much richer each generation will be than the one that preceded it. At 2 percent productivity growth, each generation will be almost twice as wealthy as its predecessor; with 1 percent growth, only about one third again as wealthy; and below that, not much richer at all.

Source:

Policy Brief from the Stanford Institute for Economic Policy Research (.pdf), written by Michael J. Boskin.

And just for reference, U.S. productivity grew at a rate of 2.6% in the first quarter of 2005.

Previous trivia tidbits:

Part 1; Part 2; Part 3; Part 4; Part 5; Part 6; Part 7; Part 8; Part 9; Part 10; Part 11; Part 12; Part 13; Part 14; Part 15; Part 16; Part 17; Part 18; Part 19; Part 20; Part 21, Part 22; Part 23, Part 24, Part 25; Part 26; Part 27, Part 28; Part 29; Part 30, Part 31; Part 32; Part 33; Part 34; Part 35; Part 36; Part 37; Part 38; Part 39; Part 40.

Daily Trivia Tidbits cover a wide range of topics; you never know what you might find. Stay tuned to WILLisms.com for more.

Posted by Will Franklin · 9 May 2005 09:42 AM

Comments

Posted by: Zsa Zsa at May 9, 2005 09:12 PM