We are witnessing unprecedented low points in American economic history as 50 million Americans—17 million of them children—are living below the poverty line[i]^,[ii] while 47 million citizens rely on food stamps ... Read more »

On the History of the U.S. Economy in Decline

[This is] an unprecedented era and has been so since the 1970s, which marked a major turning point in American history. For centuries, since the country began, it had been a developing society, and not always in very pretty ways. That’s another story, but the general progress was toward wealth, industrialization, development, and hope. There was a pretty constant expectation that it was going to go on like this. That was true even in very dark times.

I’m just old enough to remember the Great Depression. After the first few years, by the mid-1930s -- although the situation was objectively much harsher than it is today -- nevertheless, the spirit was quite different. There was a sense tha ... Read more »