Dynamical System for Economic Growth

Wolfram MathWorld:

Dynamical system — A means of describing how one state develops into another state over the course of time.

Barack Obama

Phillips curve from 2008 through 2011 (top) and related misery index from January 2009 through March 2012 (bottom) with linear regression:

\mathrm{Misery} = 0.10 \times \mathrm{Month} + 8.73

More misery under Obama helps explain why Americans say the economy is in recession.

Ronald Reagan

Not only did misery decrease during the same amount of time under Reagan. The rate of decrease was twice the rate of Obama’s increase — despite worse initial conditions at the beginning of Reagan’s term:

\mathrm{Misery} = -0.20 \times \mathrm{Month} + 19.27

Unemployment also fell another 2.1% in 1984, the last year of Reagan’s first term.

And middle-class families in America made more money: Continue reading