Statistics show that per capita GDP is at its highest level ever | Nov. 24
Think twice about GDP as indicator
In the Nov. 24 Business section, there was a statement by U.S. Rep. Jan Schakowsky, D-Ill., that the United States "has never been richer, if you look at per capita GDP."
Economist John Williams, in Shadow Government Statistics, has stated, "Upward growth biases built into GDP modeling since the early 1980s, however, has rendered this important series nearly worthless as an indicator of economic activity. … The reported formal post-2009 economic recovery in headline GDP is a canard. The GDP continues to be the most meaningless of the major economic series published by the U.S. government."
He explains this by stating that the true measurements of inflation in the United States have been seriously underreported by U.S. governmental agencies for decades, compounding the original errors of computation. This has had the effect of spuriously elevating reported GDP by the media.
Rep. Schakowsky, and many others, are honestly mistaken here.
Dr. Lincoln Wildner, Dunedin
Boomers shift gears with career | Nov. 24
Thanks for focus on entrepreneurs
Thanks to Marie Stempinski's Special to the Times, "Boomers shift gears with career" for shining a spotlight on successful bay area encore entrepreneurs. It's refreshing to see so many seasoned professionals embrace new challenges and pursue their dreams.
Americans over 50 are staying in the workforce longer, by choice for some and out of necessity for others. Millions of older workers are now self-employed or looking to launch their own small businesses. Discover your "what's next," with easy access to tools and resources, online at AARP's LifeReimagined.org and through local AARP-sponsored events, including an Entrepreneurs Workshop hosted by Eckerd College on Thursday and an Encore Tampa Bay "What's Next" Workshop Dec. 9. For more information, call (727) 592-8008.
Michelle Cyr, associate state director for advocacy for AARP Florida