Are You Better Off Than You Were 17 Years Ago?
We tend to measure what’s easily measured (and supports the status quo) and ignore what isn’t easily measured (and calls the status quo into question). If we use gross domestic product (GDP) as a broad measure of prosperity, we are 160% better off than we were in 1980 and 35% better off than we were in 2000. Other common metrics such as per capita (per person) income and total household wealth reflect similarly hefty gains. Buy Gold at Discounted Prices But are we really 35% better off than we were 17 years ago, or 160% better off than we were 37 … Continue reading →
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