We consume more than ever, but does that mean we're richer? (especially in terms of wealth per unit work, given that this generation has vastly more participati

We consume more than ever, but does that mean we're richer? (especially in terms of wealth per unit work, given that this generation has vastly more participation of women in the workforce). The fact that we have bigger houses and more cars doesn't mean anything if we're having to take on more debt, or devote higher percentages of our income to them. And at least for your "average" middle class family there are often two wage-earners now... Also, wrt growth, the argument I would make is that for much of the last 30 years, most of the economy's growth has not been shared with the middle class. Some of this is undoubtedly structural - the technology revolution has put a higher premium than ever on those with highly developed skills/education and there are certainly workers who have just been left behind. But if you look at the data, the wealth gains over the last 30 years have pretty overwhelmingly been concentrated in the VERY top of the income distribution (I hate to use the rhetoric of the Occupy movement just because it is very inflammatory to a lot of people, but it really is a top 1% phenomena). If this inequality could be mostly explained by education/skills, you'd expect something more like the top ~20% to be vastly pulling away from the bottom 80% of the distribution.