On Marketplace last night, Robert Reich talked about a cognitive disconnection regarding the American economy. While the country’s gross national product has been increasing, individuals (other than the top 20%) haven’t been seeing any benefits from the increased productivity. Usually increased productivity goes hand-in-hand with increased wealth. Rather than income and net worth increasing with the GDP, it has stayed flat.
Reich suggested developing a new measure: mean national prosperity. Listen to the show. Perhaps a new indicator can give a clearer picture of economic life in this country.
Updated February 7, 2012 and originally published December 29, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.