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The first first, or the first since the prosperity boom in the middle of the 20th century? The generation that went through the Depression surely was worse off
by wool_gather 8y ago
The first first, or the first since the prosperity boom in the middle of the 20th century? The generation that went through the Depression surely was worse off than their parents.
- Retric 8y agoGreat Depression was followed and preceded by extreme economic growth. So, they where still better off over time. The depth of the depression the US per capita GDP only dropped to ~1920 levels. (Industrialization is a hell of a drug.) It recovered by the end of the depression and the 40's was a massive boom. You really want a logarithmic scale to do these kind of comparisons over time. But even that misses the kind of structural changes that are really harming Millennials specifically.