Big Picture Economics: The Good News You Never Hear
A friend sent me a link to an article which accentuates many good points about our economy and improvements in lifestyle over the past 25 years… things you seldom hear in the news. Why not? Does the mainstream mass media have an agenda? Do they just not see the good news? Are they trying to manipulate us (WE, the people)? You decide.
It states:
“Over the last 25 years, more wealth has been created, more people have been lifted out of poverty, standards of living have been elevated more dramatically, and the quality and length of life have improved, more than ever before in recorded history.“
Here are some highlights from that article:
- Average economic growth in the U.S. has not only been positive for almost the entire last quarter century, but for much of this period the rate of growth has accelerated.
- The Dow Jones Industrial Average began the 1980s at 825; today, despite its recent declines, it remains above 12,000, a 1,400 percent increase.
- In 1983, 19 percent of American households owned stocks; in 2005, 50 percent were investors.
- Among families living below the official poverty line in the early 1970s, less than 40 percent had a car, almost none had color televisions, and air conditioning was virtually unheard of; in 2004, 46 percent owned their own homes, almost 75 percent owned a car (indeed, 30 percent owned two or more cars), 97 percent had color TVs, and 67 percent had air conditioning.
- Infant mortality dropped from 20 deaths per 1,000 people in 1970 to seven deaths per 1,000 people in 2002.
- In 1980, American life expectancy was less than 74 years. Today it is 78.
- The top marginal tax rate was reduced from 70 to 28 percent.
All of this despite recessionary periods, several wars and conflicts (Iraq I and II, Afghanistan, Bosnia), Katrina and other natural disasters, and the shock of September 11, 2001.
While I certainly don’t believe things are perfect today (just read my posts here!), we are much better off today than 25+ years ago. As always, though, we want to achieve more. There’s always room for improvement!
The question, though, is: do MOST of the people know about the good things or are they only hearing about the bad. Good decisions cannot be made without voice from all perspectives. The same is true about attitudes. Are people being swayed by the media delivering less than the truth, the WHOLE TRUTH, and nothing but the truth?
