2 You Call This a Good Economy
这能称之为上佳经验
1 You have to have lived in the 1950s and 1960s to have experienced a good economy. In the period between 1950 and 1970 it was the rule rather than the exception that an ordinary family, without higher education, could sustain itself decently on the income of a single breadwinner(养家糊口的人). In 1955, when I was 19 and living in Brooklyn, N. Y., my father, who had a sixth-grade education, maintained our family of five on a wage of $82 a week as a bookbinder. My mother taught us fairness and compassion; my father, discipline and enterprise.
2 The U. S. economy in those years was good. Then where did this good economy go? It was inflated away. The price of gold, which I take as proxy for the prices of all goods, was $35 an ounce in those years. It is at roughly ten times that price today.
3 There is another answer, though: inflation caused the entire work force to be moved into higher tax groups, thus reducing after-tax purchasing power. That is, my father s bindery job in1954 paid $82 a week, with $80 after deductions; today, at $ 820 per week the net would be $662.
4 To ordinary people, the economy doesn t look very good at all. After-tax incomes continue to decrease in purchasing power. The jobs offered in the employment ads pay only a little more than the minimum wage, maybe $5 an hour, which, after payroll deductions, yields $4 an hour. Compare that with minimum-wage jobs of the early 1950s, when 75 cents was worth today s $7.50 before and after taxes.
Notes
1 Brooklyn: a district of New York city
2 inflate:通货膨胀
3 proxy: the authority to act for another
4 payroll: a list of employees and the wages due to each
Words to Live by 2
Words To Life 1
The Smile
大股东敦促巴克莱削减投行业务
Feeling of Youth
格鲁吉亚给日本的教训
孔子语录
非比寻常的好朋友
抓紧时间
坚持你的方向
Peeling Away Artifice For the Pure Original
A Friend in Need
A Chilling Thrill
在书店里度过的时光
ViSparsh:让盲人丢掉手杖
Are you a carrot, an egg, or a coffee bean?
Libor操纵案 英国警方逮捕三人
Rush 匆匆
Touched by Love
Fifty-percent Expectation
美国共和党的新路在何方?
十句人生哲理
巴克莱纳普:2013年美股将先抑后扬
Positive Mental Attitude
Selling My Mother's Dresses
Celebration of Life
无论何时何地学会爱你自己
My Irreplaceable Treasure 2
叙利亚政府强拆大马士革支持叛乱社区
罗尔斯·罗伊斯可能被提起公诉
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