The pace of improvement in daily life is itself what makes living standards hard to measure and creates the false impression of stagnation; in stagnant eras like the 1950s and 1960s cars and refrigerators looked similar decade-to-decade, whereas now everything improves within ten years, leading people to wrongly conclude they aren't catching up because the improvements are mismeasured.

causalpending

Speaker

Russ Roberts

Evidence Quote

ten years go by and everything's better and so people ... are led to the false conclusion that people aren't catching up because they're miss measuring these things such as inflation

Source

Bruce Meyer on the Middle Class, Poverty, and Inequality 10/03/2011EconTalk
Created: 6/15/2026, 9:20:26 AM

My Notes

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