The Flinchum File

Thoughtful Economic Analysis and Existential Opinions
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More Than Half Full

Economists often joke that a president gets more credit than he deserves for good economic times and more blame than he deserves in bad economic times.  This reflects the fact that long term trends affect things more than any one occupant of the White House.  Consider this:

1.  Thirty years ago, the homicide rate in the U.S. was 8.5 per 100,000.  Today, it is only 5.3.

2.  Thirty years ago, the poverty rate was 11%, compared to only 3% today, even after adjusting for inflation.

3.  In 1988, there were 23 wars or conflicts killing 3.4 out of 100,000, compared to 12 wars today killing 1.2 people per 100 thousand.

4.  In the early 19th century, average life expectancy was a mere 30 years.  Today, it is 81 years in the developed world, reflecting a huge decrease in childhood deaths.

5.  Literacy worldwide has increased from 12% to 85% since the early 19th century.

6.  At the beginning of the 20th century, women could vote in only ONE country.  Today, they can vote in almost every country.

7.  Life is a lot less dreary for Americans who now work 22 fewer hours per week and 43 fewer hours doing housework each month.

Enough already! 

The first question is which one U.S. president deserves credit for all this? 

The second question is why do we habitually think everything is so bad?