How well-off are we? Using economic data, economics professor Steve Horwitz addresses questions about inequality, consumption, happiness, and well-being. Are the rich getting richer and the poor getting poorer? Is there income mobility in the United States? Are Americans happy? Are we "objectively" better off than we used to be? This lecture was taped in 2010 at the IHS summer seminar, "Morality, Capitalism, & Freedom" at Wake Forest University.
Wow, that chart is actually shocking. It's amazing that people these days have so much higher credit cards than those in the 'olden days' given how much less time it takes to actually earn the money to buy these things. (Or maybe that is just my perception that older people didn't spend on credit like crazy.)
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