We don't need no education.

[ChinoCoug]

Originally Posted by Indy Coug

The point I'm trying to make is that it's entirely possible that the productivity gain curve could be asymptotic; much like human longevity will be.

I don't think so. I don't see any reason to believe technological growth will slow.

[MikeWaters]

Originally Posted by ERCougar

From http://money.cnn.com/2008/03/03/news...ion=2008030405

"The federal budget has averaged about 18% of GDP over the past several decades. If that average holds and if the rules of our social insurance programs don't change, then by 2070, when today's kids are retiring, Medicare, Medicaid, and Social Security will consume the entire federal budget, with Medicare taking by far the largest share. No Army, no Navy, no Education Department - just those three programs."

So....let's expand Medicaid. Makes sense, Barrack.

I don't see you voting libertarian. So shut up.

[Lost Student]

Originally Posted by ChinoCoug

Here is a hand calculation on Excel:

I can't remember the growth accounting equation but productivity growth should roughly equal real gdp/person growth.

(1 + i)^n

[ChinoCoug]

Originally Posted by Lost Student

(1 + i)^n

no, that's compound interest.

it's this:
At = Yt/(Kt^αNt^(1−α))

http://www.econ.ucla.edu/doepke/teaching/c32/sec1.pdf

[All-American]

Chino, last time I checked, 5.8 was not the same as 6.

You lying bastard.