ARE WE BETTER OFF OR
ARE WE WORSE OFF?
Beginning of a draft
In the early 1950s, fully two fifths of American households had no automobile, about a third did not have a private telephone or a television, and the homes of about a third of all Americans were dilapidated or were without running water or a private toilet and bath. Only a small minority of families enjoyed such basics as a mixer or had a hot-water heater.
If the lower 20% of households have not had a decline in real income since 1979, why is there a problem? If we adjust for the difference in number of people per household, tax cuts over the period and the value of employer provided health benefits, real income has actually increased by more than a third.
Is capitalism better than socialism? Should we change ours to more of a mixed economy (socialism and capitalism).
Europe's mixed economies perch on a powder keg of 20 percent youth unemployment
