Posts Tagged ‘GDP’
Minnesota Per Capita GDP Growth Surpasses U.S. Average
High per capita gross domestic product (GDP) states—such as Minnesota—tend to have lower rates of GDP growth over time, for reasons discussed in part 1 of this series. However, Minnesota has successfully bucked this trend during the current business cycle, with per capita GDP growth nearly double the U.S. average—a trend which stands at odds…
Read MoreConvergence is Back! (It Never Really Went Away)
Convergence refers to the tendency of states with below average levels of economic activity to enjoy somewhat higher growth rates than other more prosperous states. Convergence occurs because less well-performing states tend to make up ground over time relative to more prosperous states as innovations and technology diffuse throughout the economy.* If convergence is real,…
Read More“It’s the Prices, Stupid” Redux: Remembering Health Economist Uwe Reinhardt
On November 13th, Princeton professor and world-renowned health economist Uwe Reinhardt passed away. His work focused on the American health care system, and he attempted to figure out how the US health system is different from other Organization for the Economic Cooperation and Development (OECD) countries. He and his fellow co-authors wanted to take a…
Read MoreState Trend in Sub-Par GDP Growth Reverses Under Progressive Policies
In the post-World War II era, Gross Domestic Product (GDP) has been the principal way of measuring economic growth or contraction. Based on this widely accepted measure, Minnesota’s economy has slightly underperformed the national average over the course of the current century, but has outperformed the national average in the two years since the enactment…
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