Re: Estimating the surplus\Doug's question

[Doug Henwood <dhenwood@xxxxxxxxx>]

Paul wrote:

> The two eras differ not just  "just" the contrast in fairness (a big
> enough issue) but the contrast in terms of actual increases in the
> productivity of capital.  Wolff shows the Reagan-Clinton era as not just
> treating the average person badly, but for no real *sustainable* gain in
> the underlying "engine" of growth.

For what it's worth, the official BLS stats for the output per unit
of capital (from the multifactor productivity series), average annual
growth rate by period, for all nonfarm business and manufacturing
alone:

                 all
               nonfarm
                 biz       mfg

1950-73         +0.1%     -0.3%
1973-94         -1.0%     -0.9%
1994-2000/1     -1.2%     +0.2%