New Normal American Economy, Officially Inside-Out

America's Economy Is Officially Inside-Out - Umair Haque - Harvard Business Review: "This is the first generation of Americans in modern history expected to enjoy lower living standards than their forebears. It is the first generation in modern history whose life expectancy is dwindling. It is the first generation of modern Americans whose educational attainment is declining. It is the first generation of modern Americans who face less opportunity than their parents. Shorter, nastier, dumber, harder, bleaker. That’s the future for not only Americans, but for many in the world’s richest countries. Let me be clear why this is so remarkable. It’s not that the great wheel of prosperity is merely decelerating. It is that it actually seems to be turning backwards. The great wheel of progress already ground to a halt—several decades ago, if measured in terms of average incomes. And the real danger now? That it may be beginning to spin—in reverse...."

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