The Big Picture

Chapter Summary

Analysts often understand today’s economic problems as a byproduct of the 2008 financial crisis and Great Recession.  However, American household finances slowly descended into its present state over decades.  This chapter chronicles that descent in data, and enumerates several commonly-cited reasons that prosperity has waned, including:

  • The exhaustion/abandonment of postwar industrial capitalism
  • The exhaustion/abandonment of public sector development
  • The destruction/suppression of trade
  • Technological advancement / automation
  • An aging population
  • The decline in pairing and the rise of single households
  • Changes in immigration
  • Neoliberalism

Tables and Figures