Thursday, February 6, 2014

More on the 50 facts on why we are living in the greatest time in World History

26. Google Maps is free. If you think about this for a few moments, it's really astounding. It's probably the single most useful piece of software ever invented, and it's free for anyone to use.

27. High school graduation rates are at a 40-year high, according to Education Week.

28. The death rate from strokes has declined by 75% since the 1960s, according to the National Institutes of Health. Death from heart attacks has plunged, too: If the heart attack survival had had not declined since the 1960s, the number of Americans dying each year from heart disease would be more than 1 million higher than it currently is.

29. In 1900, African Americans had an illiteracy rate of nearly 45%, according to the Census Bureau. Today, it's statistically close to zero.

30. People talk about how expensive college is today, but a century ago fewer than one in 20 Americans ever stepped foot in a university. College wasn't an option at any price for some minorities because of segregation just six decades ago.

31. The average American work week has declined from 66 hours in 1850, to 51 hours in 1909, to 34.8 today, according to the Federal Reserve. Enjoy your weekend.

32. Incomes have grown so much faster than food prices that the average American household now spends less than half as much of its income on food as it did in the 1950s. Relative to wages, the price of food has declined more than 90% since the 19th century, according to the Bureau of Labor Statistics.

33. As of March 2013, there were 8.99 million millionaire households in the U.S., according to the Spectrum Group. Put them together and they would make the largest city in the country, and the 18th largest city in the world, just behind Tokyo. We talk a lot about wealth concentration in the United States, but it's not just the very top that has done well.

34. More than 40% of adults smoked in 1965, according to the Centers for Disease Control. By 2011, 19% did.

35. In 1900, 44% of all American jobs were in farming. Today, around 2% are. We've become so efficient at the basic need of feeding ourselves that nearly half the population can now work on other stuff.

36. One of the reasons Social Security and Medicare are underfunded is that the average American is living longer than ever before. I think this is literally the best problem to have.

37. In 1940, less than 5% of the adult population held a bachelor's degree or higher. By 2012, more than 30% did, according to the Census Bureau.

38. U.S. oil production in September was the highest it's been since 1989, and growth shows no sign of slowing. We produced 57% more oil in America in September 2013 than we did in September 2007. The International Energy Agency projects that America will be the world's largest oil producer as soon as 2015.

39. The average American car got 13 miles per gallon in 1975, and more than 26 miles per gallon in 2013, according to the Energy Protection Agency. This has an effect identical to cutting the cost of gasoline in half.

40. Annual inflation in the United States hasn't been above 10% since 1981 and has been below 5% in 77% of years over the past seven decades. When you consider all the hatred directed toward the Federal Reserve, this is astounding.

41. The percentage of Americans age 65 and older who live in poverty has dropped from nearly 30% in 1966 to less than 10% by 2010. For the elderly, the war on poverty has pretty much been won.

42. Adjusted for inflation, the average monthly Social Security benefit for retirees has increased from $378 in 1940 to $1,277 by 2010. What used to be a safety net is now a proper pension.

43. If you think Americans aren't prepared for retirement today, you should have seen what it was like a century ago. In 1900, 65% of men over age 65 were still in the labor force. By 2010, that figure was down to 22%. The entire concept of retirement is unique to the past few decades. Half a century ago, most Americans worked until they died.

44. From 1920 to 1980, an average of 395 people per 100,000 died from famine worldwide each decade. During the 2000s, that fell to three per 100,000, according to The Economist.

45. The cost of solar panels has declined by 75% since 2008, according to the Department of Energy. Last I checked, the sun is offerings its services for free.

46. As recently as 1950, nearly 40% of American homes didn't have a telephone. Today, there are 500 million Internet-connected devices in America, or enough for 5.7 per household.

47. According to AT&T archives and the Dallas Fed, a three-minute phone call from New York to San Francisco cost $341 in 1915, and $12.66 in 1960, adjusted for inflation. Today, Republic Wireless offers unlimited talk, text, and data for $5 a month.

48. In 1990, the American auto industry produced 7.15 vehicles per auto employee. In 2010 it produced 11.2 vehicles per employee. Manufacturing efficiency has improved dramatically.

49. You need an annual income of $34,000 a year to be in the richest 1% of the world, according to World Bank economist Branko Milanovic's 2010 book The Haves and the Have-Nots. To be in the top half of the globe you need to earn just $1,225 a year. For the top 20%, it's $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000. America's poorest are some of the world's richest.

50. Only 4% of humans get to live in America. Odds are you're one of them. We've got it made. Be thankful.


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