> When economists say standards of living are higher they mostly mean life expectancy has increased and we have iPhones
This is incorrect.
> talk to some of the young people you know
We’re paying down our debt and buying homes. We’re more stretched than our grandparents were at our age, but our objective quality of life is far superior. I wouldn’t give up modern telecommunications for a bigger house.
I own assets and am happy. (The home owning is often a source of stress that competes with my happiness.) The last ten years saw my prospects increase materially. I’ve also noticed as much in my friends with more blue-collar jobs. Statistics show a similar trend: broad gains with pockets of instability.
This is incorrect.
> talk to some of the young people you know
We’re paying down our debt and buying homes. We’re more stretched than our grandparents were at our age, but our objective quality of life is far superior. I wouldn’t give up modern telecommunications for a bigger house.
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