(American Thinker) -- Between 1900 and 1999, U.S. GDP expanded by 1,000%. Never in human history has a major economy expanded at such a rate for so long. At the end of the 20th century, the average American enjoyed ten times the standard of living as the person living in 1900. Nearly everyone owned a car (a promise Warren Harding had made in his 1920 campaign), and nearly everyone had cable TV, internet, and a cell phone besides. Life was good in 1999.
But will life be better in 2199?
According to the latest BLS report, U.S. productivity in the first decade of the 21st century dropped to a level just ahead of inflation. Since 2008, productivity has gone negative, an ominous sign for future living standards. The past five years have shown productivity gains stuck at or below 2%.
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