For many Americans, it may not feel like things are going very well lately, but in some critical ways, life in America is better than ever. From Cato:
In 1986, Thanksgiving dinner cost $28.74. In October 1986, an average worker made $8.96 an hour. That means that s/he had to work 3 hours 12 minutes and 27 seconds, or 50 minutes and 30 seconds longer than [a] worker today.
So, enjoy your Thanksgiving dinner and rejoice in knowing that you have worked almost an hour less to earn it than would have been the case in 1986.
This isn’t just true of Thanksgiving. From refrigerators to shoes, basic necessities cost us far less than they did previous generations. We cover a lot of bad news at TAI, from terrorist attacks to the rising costs of health care and education. But, in general, the future is still bright. For the past three hundred years, pessimists have repeatedly predicted disaster—and human ingenuity has repeatedly proven them wrong. Across many domains, material goods keep getting more affordable and people continue to get healthier. Here at TAI, we’re thankful for that.