Celebrating humanity's flourishing through the spread of capitalism and the rule of law
23 Mar 2015 Leave a comment
in politics - USA, technological progress Tags: living standards, The Great Enrichment
we find that people at all income levels now have access to many more material possessions than they did in the 1980s. Moreover, there has been a narrowing of the gap between high and low-income classes in terms of ownership of these items.
It is hard to argue against the improvement in the standard of living that has accompanied these trends. Hence, the standard narrative that rising income inequality has somehow hurt the middle and lower-income classes is not supported by data.
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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