Yeah, the economy is in the crapper now, and Bush-Obama policies will take a big bite out of future growth. But economist Steve Horwitz, a former grad school colleague of mine, has some good information on just how well Americans live compared to even the recent past. Bottom line: Even those classified as poor today possess things that even the middle class considered luxuries just 30 years ago.
Economist Don Boudreaux, a former grad school professor of mine, has more.
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