Ignore the haters. Living standards have generally improved greatly over the last few decades. We have 24 charts from @binarybits to prove it. fullstackeconomics.com/24-charts-that…
@fullstackecon @binarybits Great stuff, but one possible qualification. At least for the TVs, if you used regular BLS prices, those use a hedonic adjustment that corrects for increased TV quality, reception, etc. While its fair to say the price of TVs is down 94%, the hours worked to buy a normal TV hasn't
@fullstackecon @binarybits People get so mad when you tell them things are actually getting better not worse. And this cuts across ideology, generation, demographics, etc.
@fullstackecon @binarybits "Since Gallup began asking that question in the 1980s, the share of Americans who say they’re satisfied with their personal lives has been fairly stable, ranging anywhere from 73% to 90% while satisfaction in the direction of the country has generally been lower and less stable"
@fullstackecon @binarybits Anti-depressant use and suicides are up too. If living standards were so good, people wouldn't be drugging ourselves to numb their misery.
@fullstackecon @binarybits What is the household debt trend over the same period?
@fullstackecon @AlanMCole @binarybits This will reverse as energy becomes a luxury good