Thursday, April 05, 2007
This Odd Boom
Kevin Drum links to this graph from EPI, on the characteristics of the current economic expansion compared to the average characteristics of past expansions. Now, "average expansion" isn't the best basis for comparisons, because it doesn't tell us how many expansions like the current one we have had in the past. My guess is that we have never had a similar one, but I really should research it. Right after eating these chocolate Easter eggs, perhaps...
In the meantime, note the height of the profits column. What the graph shows is that as the economic cake grows, a larger and larger slice goes to those who own the firms.