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Showing posts from May 11, 2011

Are You Really Better Off Than Daddy?

The Federal Government tells those of us in the United States that our economy is steadily growing and that all of us have grown much more prosperous than our parents and grandparents were—that in fact our standard of living has improved. The problem is, our increased relative prosperity is nothing more than illusion created by the government’s gaming of the statistics. In this video blog, Michael Maloney takes a look at Gross Domestic Product (GDP) per capita, which is the measure of the prosperity of the United States per person, and how it has grown over the years since he was a boy, compared to the real standard of living we enjoy today. In a span of a hundred years or so during the 1800s, human quality of life improved immensely. Indoor plumbing, electricity and indoor lighting, the telegraph, the telephone, refrigeration, radio and television were all invented within the span of a century or so. Since then a few improvements have been made—most notably computers, the Internet and c…

Is Increasing Prosperity Illusory Wealth? - Mike Maloney of