2 ms·
Here's[1] a more recent article from the St. Louis Fed. In no uncertain terms the current generation is behind in wealth accumulation. The best case scenario is
by intev 5y ago
Here's[1] a more recent article from the St. Louis Fed. In no uncertain terms the current generation is behind in wealth accumulation. The best case scenario is since the delta has been reduced since the last time this study was done, hopefully the trend continues. Covid threw a wrench in everything, but as it stands, current generation is worse off (even without taking covid into account).
The above study looks at it on a per capita basis adjusted for inflation. The conclusion is pretty straightforward and clear.
> Yes certain “the rich” may live longer but I was referring to the correlation between health care expenditure and life expectancy - which is weakly correlated and only to a point. I may have don’t a poor job framing that [1]. Given you linked AARP I suspect that has more to do with unequal access to care earlier in life when poor, amortized to the limit, a uniquely American problem among developed nations.
Of course, but there's also plenty of other countries, in fact most of the world, where there's no healthcare safety net and being wealthy could literally mean decades if difference in life span. If the year being being born influences that, it's an incredibly unfair advantage. Yes the bar is being raised, but you can't simply isolate it as a uniquely American problem. Most of the developing world has this problem too. As a quick example look at the cancer survival rates by country [2]. Being rich lets you live longer in most countries. Its not the case only in a few select countries.
[1] https://www.stlouisfed.org/on-the-economy/2021/march/millennials-catching-up-earlier-generational-wealth https://www.stlouisfed.org/on-the-economy/2021/march/millenn...
[2] https://worldpopulationreview.com/country-rankings/cancer-survival-rates-by-country https://worldpopulationreview.com/country-rankings/cancer-su...