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Over the past few decades, we have seen the slogan "a rising tide lifts all boats" thoroughly debunked. Indeed, it is possible for macroeconomic measurements t
by enraged_camel 10y ago
Over the past few decades, we have seen the slogan "a rising tide lifts all boats" thoroughly debunked.
Indeed, it is possible for macroeconomic measurements to improve without large segments of the population seeing the fruits of those improvements.
That's why it's incredibly important for political leaders to connect with people from all walks of life. Bill Clinton understood this very well. Hillary, unfortunately, did not. She was content with relying on polls and numbers, which of course could not capture many truths that, by their nature, cannot be quantified.
- facepalm 10y agoNot even sure if that is true, as most measurements seem to be relative, like "x% are poorer than y%". Even if income has stagnated, it seems possible that buying power has increased. I guess many measures try to correct for that, but maybe it is not enough. I was impressed when I visited a medieval castle, where the luxuries of the lord included an automatically served table (that is, it would be manually lifted up from the kitchen). That required a whole castle with who knows how many employees. These days, everybody can just Microwave their food, for a few bucks. Even though (almost) everybody is poorer than the medieval landlord in relative terms, in absolute terms everybody is richer.