>For example, can the person of today afford a higher standard of living than one of 20 years ago
Forget 20 years ago, you can just back 6 years is enough. Ask any person when life was more affordable and job security better, in 2019 or today and everyone will say 2019.
Graphs like GDP or the stock market going up, mean jack shit to the average person when they can't afford a house anymore.
A lot of our economic growth was just on paper through financial instrumentation.
Forget 20 years ago, you can just back 6 years is enough. Ask any person when life was more affordable and job security better, in 2019 or today and everyone will say 2019.
Graphs like GDP or the stock market going up, mean jack shit to the average person when they can't afford a house anymore.
A lot of our economic growth was just on paper through financial instrumentation.