Facts about these issues can be found in Just Facts’ article, “Do Large National Debts Harm Economies?

In about 85% of these countries, intangible capital accounted for more than half of their wealth.[270] Per the study: Today, women make up about half our workforce.

But they still make 77 cents for every dollar a man earns. A woman deserves equal pay for equal work.[286] [287] [A]fter we controlled for all the factors included in our analysis that we found to affect earnings, college-educated women working full time earned an unexplained 7 percent less than their male peers did one year out of college.

Using 2,000 data points on national debt and economic growth in 20 advanced economies (such as the United States, France, and Japan) from 1800–2009, the authors found that countries with national debts above 90% of GDP averaged 34% less real annual economic growth than when their debts were below 90% of GDP.[83] * In 2013, the Political Economy Research Institute at the University of Massachusetts, Amherst, published a working paper about the economic consequences of government debt.

Using data on national debt and economic growth in 20 advanced economies from 1946–2009, the authors found that countries with national debts over 90% of GDP averaged: * The authors of the above-cited papers have engaged in a heated dispute about the results of their respective papers and the effects of government debt on economic growth.

GDP is defined by the equation: Hours worked × Labor productivity.[76] [77] GDP per capita provides a general index of a country’s standard of living.

Countries with low GDP per capita and slow growth in GDP per capita are less able to satisfy basic needs for food, shelter, clothing, education, and health.[78] * In 2012, the Journal of Economic Perspectives published a paper about the economic consequences of government debt.These items, which were unknown and undreamt of a century ago, are tangible proof that U. households today enjoy a higher standard of living.[113] * In 2012, Princeton University economist Orley Ashenfelter authored a working paper that compared the real wages of Mc Donald’s workers in over 60 countries. The average family not in the top 10 percent makes less money today than they were making a generation ago.[218] * Comprehensive income data from the Congressional Budget Office shows that in 2012, the top 1% received 17% of pretax income, and the bottom 90% received 61%.He did this comparing how many Big Macs they could buy with their income from an hour of work. The distribution of pretax income from 1979–2013 varied as follows: * According to Piketty and Saez, from 1979 to 2013, the pre-tax income share of the top 10% grew by 12 percentage points.In the 21st century, households throughout the country have purchased computers, televisions, i Pods, DVD players, vacation homes, boats, planes, and recreational vehicles.They have sent their children to summer camps; contributed to retirement and pension funds; attended theatrical and musical performances and sporting events; joined health, country, and yacht clubs; and taken domestic and foreign vacation excursions.Income allows people to satisfy their needs and pursue many other goals that they deem important to their lives, while wealth makes it possible to sustain these choices over time.