One of the best expositions on the myth that income has stagnated over the past few decades. Also, and more importantly, it is an excellent example of clear thinking in the face of interpreting wildly different data. Russ has done a masterful job of sorting the wheat from the chaff. His thinking can be applied to so many other economic myths, such as the myth that poverty is increasing. (It’s not: it’s just that how it’s measured and the inputs used for income have changed over time, so that what’s called poverty today is different than that which was called poverty yesterday.)
Beautifully done Mr. Roberts. Thank you. Were that we could get you and Ethan Fisher in the same room. I would love to be a fly on the wall for that conversation.