Some Data That at First Might Seem Puzzling: the Share

question 133

Essay

Some data that at first might seem puzzling: The share of GDP devoted to investment was similar for the United States and South Korea from 1960-1991. However, during these same years South Korea had a 6 percent growth rate of average annual income per person, while the United States had only a 2 percent growth rate. If the saving rates were the same, why were the growth rates so different?

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Definitions:

Supreme Court

The highest federal court in the United States, with ultimate appellate jurisdiction over all federal and state court cases involving issues of federal law.

United States v. Butler

A 1936 Supreme Court case that ruled the Agricultural Adjustment Act (AAA) unconstitutional, challenging the limits of federal power in regulatory and taxing activities.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939, aimed at restoring prosperity during the Great Depression.

Labor Militancy

The adoption of confrontational strategies by workers and labor unions, typically involving strikes or protests, to achieve their demands.