The Myth of American Inequality and Stagnation

Source: American Institute for Economic Research
by Donald J Boudreaux

“[A]t the root of both the conservative and progressive craving to infuse the state with even more power over the economy is the belief that for decades the American economy has served only the superrich while leaving ordinary Americans ‘behind.’ The assertion that poor and middle-class Americans have for decades stagnated economically while the greedy, out-of-touch rich feasted on the spoils of their predatory embrace of ‘market fundamentalism’ and ‘neoliberalism’ is repeated so often and widely across the ideological spectrum that it’s taken to be a fact as incontestable as is the proposition that 2+2=4. But this assertion about the economy isn’t merely contestable, it’s utterly false, as is known by any open-minded person paying attention to more than headlines, clickbait, soundbites, and politicians’ harangues.” (05/25/23)