{"id":37866,"date":"2017-04-07T02:00:20","date_gmt":"2017-04-07T06:00:20","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=37866"},"modified":"2017-07-14T10:06:29","modified_gmt":"2017-07-14T14:06:29","slug":"growth-rates-are-crucial","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2017\/04\/07\/growth-rates-are-crucial\/","title":{"rendered":"Growth Rates Are Crucial"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/VNWGEIXSuEQ?list=PL-uRhZ_p-BM52EbMG1NR1ZfG9tEvcxE4u\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Published on 12 Jan 2016<\/strong><\/p>\n<p>In the first video in this section on The Wealth of Nations and Economic Growth, you learned a basic fact of economic wealth \u2014 that countries can vary widely in standard of living. Specifically, you learned how variations in real GDP per capita can set countries leagues apart from one another.<\/p>\n<p>Today, we\u2019ll continue on that road of differences, and ask yet another question.<\/p>\n<p>How can we explain wealth disparities between countries?<\/p>\n<p>The answer? Growth rates.<\/p>\n<p>And in this video, you\u2019ll learn all about the ins-and-outs of measuring growth rates.<\/p>\n<p>For one, you\u2019ll learn how to visualize growth properly \u2014 examining growth in real GDP per capita on a ratio scale.<\/p>\n<p>Then, here comes the fun part: you\u2019ll also take a dive into the growth of the US economy over time. It\u2019s a little bit like time travel. You\u2019ll transport yourself to different periods in the country\u2019s economic history: 1845, 1880, the Roaring Twenties, and much more.<\/p>\n<p>As you transport yourself to those times, you\u2019ll also see how the economies of other countries stack up in comparison. You\u2019ll see why the Indian economy now is like a trip back to the US of 1880. You\u2019ll see why China today is like the America of the Jazz Age. (You\u2019ll even see why living in Italy today is related to a time when Atari was popular in the US!)<\/p>\n<p>In keeping with our theme, though, we won\u2019t just offer you a trip through ages past.<\/p>\n<p>Because by the end of this video, you\u2019ll also have the answer to one vital question: if the US had grown at an even higher rate, where would we be by now?<\/p>\n<p>The magnitude of the answer will surprise you, we\u2019re sure.<\/p>\n<p>But then, that surprise is in the video. So, go on and watch, and we\u2019ll see you on the other side.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Published on 12 Jan 2016 In the first video in this section on The Wealth of Nations and Economic Growth, you learned a basic fact of economic wealth \u2014 that countries can vary widely in standard of living. Specifically, you learned how variations in real GDP per capita can set countries leagues apart from one [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,7,13],"tags":[1094,1093,1143,290,315],"class_list":["post-37866","post","type-post","status-publish","format-standard","hentry","category-economics","category-history","category-usa","tag-gdp","tag-macroeconomics","tag-principlesofeconomics","tag-statistics","tag-wealth"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-9QK","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/37866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=37866"}],"version-history":[{"count":2,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/37866\/revisions"}],"predecessor-version":[{"id":37868,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/37866\/revisions\/37868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=37866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=37866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=37866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}