The average American is much better off now than four decades ago
Estimates of income growth vary greatly depending on methodology
JUST how bad have the past four decades been for ordinary Americans? One much-cited figure suggests they have been pretty bad. The Census Bureau estimates that for the median household, halfway along the distribution, income has barely grown in real terms since 1979. But a recent report by the Congressional Budget Office (CBO), a non-partisan think-tank, gives a cheerier rise of 51% for median household income between 1979 and 2014. Which is nearer to reality?
This article appeared in the Finance & economics section of the print edition under the headline "Home improvement"
Finance & economics March 31st 2018
- America’s trade strategy has many risks and few upsides
- Asia’s small open economies may suffer in America’s trade war
- More market volatility seems likely
- India’s economy is back on track. Can it pick up speed?
- China wants to reshape the global oil market
- The average American is much better off now than four decades ago
- Insurers and undertakers profit as people prepay their last bill
- Wakandanomics
From the March 31st 2018 edition
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