Question

Look at per capita income (PCI) growth in the United States since WW2 or 1945. What is your assessment of this economic story? Who are the big winners and losers?

Answer 1

Per Capita Income growth in US- Post 1945
The nation faced a large economic growth and attaining prosperity post the II World War. The development helped the nation to attain a growth in the per capita level of income through different sectors. The growth of industries was the main source of the change. Income inequalities decreased to a better level which was good to the economy. Government policies helped the economy to develop various sectors especially automobiles and industry. Increase job opportunities increased national income led to increasing per capita income. Agricultural sector has faced severe situation in the era. It became uneasy to be competent in the sector. The industrial sector was the most to benefit from the period. The increase in the per capita income was more contributed by the industrial sector. Urban areas benefitted than the rural ones. Rural area faced stagnant growth level contributing less to the national income. So, the increase in the per capita growth was more from the urbanized economy of industries and not by the rural ones. The income gap between the rural and urban areas per population cannot be ignored with the increase in the per capita income of the nation. Skilled labors benefitted from the structural change in the economy. The period helped the nation to attain a great per capita income which is far more than the average world rate but the gainers are more that work in industrial economy with the policies to stimulate the industrial growth.