Source: Free Association
by Sheldon Richman
“Many people, including some free-market advocates, think Americans are materially worse off today than they were in the 1970s. Some subscribers to that view blame globalization, that is, free trade in goods, which means in labor services. By any reasonable measure, those people are wrong. Stagnation is a myth. Living standards have never been higher. That goes for an increasing portion of the rest of the world too. After thousands of years, extreme poverty has plummeted to under 10 percent in just a few decades.” (03/21/25)
https://sheldonfreeassociation.blogspot.com/2025/03/tgif-income-stagnation-myth.html