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This is a very 'Economist' article-- looking at macro trends instead of what actual Americans are feeling. Sure, healthcare has expanded, GDP has risen, even p

This is a very 'Economist' article-- looking at macro trends instead of what actual Americans are feeling. Sure, healthcare has expanded, GDP has risen, even pay has gone up. But the _cost_ of healthcare has rapidly ballooned, the _cost_ of education, housing, etc has rapidly ballooned. It's very precarious to live in the US without a healthy savings account. That's why people are saying the economy is shit right now.

kalimanzaro 3y ago
even for macro trends, the E likes to cherry pick its graphs. The US PPP trend has been sad for a while now, (thats not even per capita) https://www.researchgate.net/figure/US-GDP-at-purchasing-power-parity-and-in-constant-2011-international-dollars-relative-to_fig8_330289127/amp https://www.researchgate.net/figure/US-GDP-at-purchasing-pow... There was another E agitprop piece recently, implying that the internet contributed to 20% TFP growth since 1990s, but the reality is that most of that growth happened before 2005, with a decline since then. I had to check the data because Krugman had just blogged about "the internet did nothing for productivity" (for the nth time?) https://archive.ph/RgOq3 https://archive.ph/RgOq3 in both pieces, the E lifts America pretty much by comparison to its closest peers, who happen to be social democracies running out of natural resources and boomers.