4 ms·
Wealth is synonymous with net-worth: total assets minus total liabilities. Yes, the quality of the goods available today is unquestionably better than the qual
by urlgrey 12y ago
Wealth is synonymous with net-worth: total assets minus total liabilities. Yes, the quality of the goods available today is unquestionably better than the quality available 30 years ago, but many of those goods are being purchased on credit subsidized by the super-wealthy and have a shorter useful life (replace rather than repair).
Read the following post from the Century Foundation titled "Graph: Household Debt and Middle Class Stagnation":
http://tcf.org/blog/detail/graph-household-debt-and-middle-class-stagnation http://tcf.org/blog/detail/graph-household-debt-and-middle-c...
- jp555 12y agoOver 500 million new people have joined the middle class in the last 13 years - https://www.allianz.com/en/press/news/company/point_of_view/150115-a-bit-of-inequality-is-good.html https://www.allianz.com/en/press/news/company/point_of_view/... I do agree we need to look for more effective policy to better manage natural power-law effects (inequality), but globally in many ways things have never been as good as today.