Is the low standard of living in the United states cultural or economic ?
I think that the low standard is the result of both points. Some may call me naive and argue that the free market economy is what makes America work… But the income inequality is getting out of hand. There is something wrong with the society where they are advertising personal submarines as a viable Christmas gift while many people don’t have enough to eat. Economic indicators that the people use to argue that the economy is strong can be dangerous since it diverts us from the reality. GDP is strong this quarter they say… Well, if the rich top few percent has a strong quarter to make up for the bottom majority who are suffering… you may get the sense that everything is fine… Economy is bad… Before you throw around numbers, look at the people on the street, people losing homes, and having to cut down on necessities…
