Deep Sleep and Other News

from Peter Radford

“the rotten economics that brought us the crisis has not been purged”

With the US immersed in one of its weekly presidential elections – they seem to be that frequent – nothing substantial can be done about our malaise. No one wants to do anything for fear of inciting a tsunami of attack ads, venomous deformations of the truth, and contorted definitions of what is actually going on. Too much is at stake for anyone to make a move. So we drift instead. This is more a function of the extraordinary divide in our politics than it is of the electoral system itself, but it is, nonetheless, the primary cause of our problems. While we clearly have an ideological battle being waged within economics, it pales by comparison to that in our politics. Until one side or the other emerges victorious, or at least sufficiently dominant to do what it proposes, we will be stalled. That, I think, could take a decade or more.

The only person in Washington to talk much about our problems this week was

Average Rankings for the 8 Income and Leisure Indicators

Decline of the USA (Al Jazeera’s review)

For days of holiday and vacation taken per year the USA ranks 23rd out of 23

Decline of the USA     (Al Jazeera’s review)  

For average hours worked per person annually in employment the USA ranks 22nd out of 30

Decline of the USA     (Al Jazeera’s review)   

For current account balance as a percentage of GDP the USA ranks 25th out of 30

Decline of the USA     (Al Jazeera’s review)  

For ratio of female to male income the USA ranks 12th out of 30

Decline of the USA      (Al Jazeera’s review)  

For income equality the USA ranks 28th out of 29

Decline of the USA     (Al Jazeera’s review)    

For share of income received by richest 10% the USA ranks 26th out of 28

Decline of the USA     (Al Jazeera’s review)    

For share of income received by poorest 20% the USA ranks 27th out of 28

Decline of the USA    (Al Jazeera’s review)     

For GDP per hour worked the USA ranks 7th out of 30

Decline of the USA     (Al Jazeera’s review)  

World map comparing income inequality in the USA to other countries

Source : http://www.theatlantic.com/international/archive/2011/09/map-us-ranks-near-bottom-on-income-inequality/245315/

Average Rankings for the 8 Education Indicators (USA ranks 18 out of 30.)

Decline of the USA      (Al Jazeera’s review)  .

For first time graduation rates in tertiary education the USA ranks 14th out of 26.

Decline of the USA      (Al Jazeera’s review)

Download Decline of the USA as pdf e-book for $5.00 / €4.00 / £3.25 More information

Al Jazeera –full review
Fullbrook’s book reminds us that there’s a rational order in the world – that countries can learn from one another’s experience in tackling social problems and challenges, and that by striving to match what already works elsewhere, they can make their own countries better.

USA National Debt Graph by President – Roosevelt to Obama

The green line shows what would have happened to the national debt if Reagan and the Bushes had balanced their budgets as Reagan claimed he would.  For more information go to http://zfacts.com/p/318.html

For percentage of population age 25 to 34 with tertiary education the USA ranks 14th out of 30

Decline of the USA  

For science-related graduates among 25-34 year olds in employment the USA ranks 21st out of 27.

Decline of the USA (Al Jazeera’s review)   

Education: Student achievement at problem solving – 24th out of 29

Decline of the USA (Al Jazeera’s review)    

Education: Student achievement in reading literacy – 11th out of 30

Decline of the USA (Al Jazeera’s review)   

Education: Student achievement in mathematical literacy – 23rd out of 30

Decline of the USA      (Al Jazeera’s review)   

Education: Student achievement in scientific literacy – 15th out of 30

Decline of the USA       (Al Jazeera’s review)