We estimate growth rates of real incomes in the U.S. by quintiles using the Congressional Budget Office’s (CBO) post … labor" that do not increase either current purchasing power or utility. We estimate a high and a low growth rate using two … a multiple of 8.1 to a multiple of 11.3. We next estimate growth in welfare assuming diminishing marginal utility of …

incomes. This occurred at the onset of modern economic growth on account of rising inequality and an increase in food prices … cohorts of the early 1830s was brought about by a diminution in nutritional intake in spite of robust growth in average …