The Prosperity Paradox

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Regardless of whether you’re rich or poor, your standard of living is vastly higher than it was half a century ago. During those 50 years, Americans’ incomes increased by nearly 150%. The average size of our homes went up over 60%. Our life expectancy shot up by almost a decade.
Go back longer than that and it’s even more stark. Before the early 1800s, western nations barely saw any economic growth at all. The amount of growth over a century was less than what modern America has seen in some years.
The catch? Prosperity is not inevitable. If you take away people’s ability to innovate and be creative, you take away a country’s wealth.
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3 окт 2021

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Комментарии : 159

@KiteandKeyMedia 2 года назад

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@evelynlozano4914 2 года назад

Bibiuuuuibibbibibbbiuuiuuuuuuuuuu ok o

@philfoster4298 2 года назад

Glad to be a 13%er. Born 1954. Started working 1962 (not a typo, I was 8 years old). One day in 1974 I had a net worth of 15 cents, one dime and one nickel. Retired a multimillionaire in 2014 at age 58. I am truly blessed and feel like I have way more money than I need. Now I give away 50% of my retirement and investment earnings to those that need help. I always lived frugally, grew and harvested a lot of my own food, was not materialistic, and considered the most fun thing I could do was spend a day in the mountains with my family or my dog.

@miameow4833 2 года назад

Reminds me of the tale of the Mexican beach bum and the millionaire marketing rep who spotted him. He asked how he could stand lounging aimlessly in the ocean...he should work hard, save $$$$, get better than others in the company, move up the ladder, become CEO, recruit, train others to do the same, save $$$$, invest $$$$$$ and then finally go out and buy a yacht and relax in the ocean...Mexican beach bum responds, " oh, relax like I'm doing...but I'm already doing that!"

@sacredninja6866 2 года назад

Can I borrow 20 bucks

@andressoto739 2 года назад

That so wholesome to hear. One question. Wish you could have used 1 million in your 30s? Honest question because I feel like I got 2 routes since I'm approaching 30. Aggressively save (by my estimates) 2mil by the time I'm 60 OR heavy risks to make 1mil in 5 years and use it all up and retire with 500k. Technically a 500k loss...

@annalisa14 2 года назад

Wonderful. Now tell me about your parents….

@cpmiller1965 2 года назад

Living a fulfilling life here, congrats! People complicate their lives by never satisfying their wants.

@josephhoward4697 2 года назад

The reason why people don’t feel richer is because many of the core commodities, goods, and services are rising faster than wages. Wages are suppressed due to increased competition amongst employees. We also have taxes to worry about. Our taxes help cover debts as spending. In addition, government debt allows for government spending, which is a huge driver behind inflation. Price inflation is flanking us from the right, taxes from the left, and excessive competition has cut us off from our fallback position. We work more for less. It ain’t about money or the latest gizmo. Things like oil, gas, silver, copper, lithium, gold, lumber, housing, cars, etc. are what people really care about. Most people need oil and gas for energy. It ain’t cheap to get around it. We need copper for the wires in houses and cars. We need houses for shelter. In urban environments, cars aren’t as necessary, but most land in America is rural or suburban. We need lumber for houses. All of these things are going up relative to wages. With the exception of food (at least for now), the things we can’t avoid buying require more work to obtain. That’s why we feel poorer. We don’t measure our wealth in money. We measure our wealth by costs and benefits. The costs grow faster than the benefits, making us feel poorer.

@rokyericksonroks 2 года назад

Good summary, thnx for posting.

@leleesmilesalot 2 года назад

🎯 thus, we are poorer if we are giving up more of our time than necessary or humanly possible.

@josephhoward4697 2 года назад

@@leleesmilesalot Time Poverty is a real issue

@leleesmilesalot 2 года назад

@@josephhoward4697 I gave ten years of my life on a very humble, very humble payroll to a legitimate publicly renown organization as a naive youth and have nothing to show for it. My elders took advantage that I was forthright and impressionable.

@josephhoward4697 2 года назад

@@leleesmilesalot It might not be the outcome you desired, but consider this: you made it ten whole years. As humble your pay may have been, you managed to make it work. That’s something. And, consider this: you have a documented record of long-term loyalty. Employers like that. It makes them think they can lock you down. You can use that. Furthermore, you also have work experience and whatever good memories you may have picked up along the way. Yeah, you might have been played for a sucker, but it can’t be all bad, right?

@tomkopf4534 2 года назад

Grew up poor (the poorest in a poor neighborhood) 9 kids, welfare, foodstamps and alcoholic parents.Fast forward,never graduated high school but learned the window and glass trade,got my contractors license and make more in a day than doctors without having to babysit an office staff and paying crazy insurance premiums. I'm not wealthy but I am happy,had money to send my kid to private school and time to drop off and pick up and do the milk and cookie thing after school as a single dad,she is blazing her own trails now without university type education ,she just uses that computer as her tool for great opportunity. We are truly blessed to live in this country.

@bobzelley5100 2 года назад

poor in American means you are a top 1% . Think outside your town and compare globally.

@paulocorrea2293 Год назад

Tom, it's so refreshing to hear that yes the American dream of true prosperity can achieved with a true effort and hard work regardless of one's aptitude. Congratulations, mate!

@familygardner8669 2 года назад

Overall it’s true that we are blessed to live in the US in the modern era. However, I think this video glosses over the very high cost of housing, education, and healthcare that the US currently faces, which people in the 1950s and 1960s had much easier. I’d take a house over a cell phone any day of the week. We need to focus on how we can lower the cost of those essential goods so that the young don’t feel disenfranchised and can still believe in the power of freedom to lift everyone.

@giannapalma7022 2 года назад

Agreed

@devintaylor8702 2 года назад

We should live in harmony with nature and our fellow earth dwellers like the deer 🦌and rabbit 🐇and other forest creatures 😀 I like to live around forest areas 🌳🌲🌳 Nature has the cure all God Bless 🙌🙏✨

@justacinnamonbun8658 2 года назад

How is the United States the richest country in the world? ~40 million living on food stamps, it's been that way for a very long time. A handful of billionaires control everything. It might be the richest but that wealth is concentrated in one spot. Something must be off.

@leleesmilesalot 2 года назад

When consumers start exercising more responsible spending practices and create hard budget rules with thresholds on certain goods, it will put leverage on the businesses to stop robbing price points blind,

@oliviastratton2169 2 года назад

@@justacinnamonbun8658 The vast majority of US citizens are in the top 1% globally. Only about 2% are poor by global standards.

@lawabidingcitizenXXX 2 года назад

Now let’s factor for inflation. My father bought his first house just 30 some years ago for 130 percent of his annual salary with 15 of the value of the house down, 25 percent his salary respectively. The projection for myself in the same field with the same tenure will be to put 50 percent of my annual salary down, 10 percent of the value of the house respectively-on a house that costs 400-500 percent of my annual salary. A salary in which my only retains 80 percent of what my father’s salary was at that time. Absolutes our lives are better than they were 100-200 years ago. The poorest among us live better than 15th century kings. Go back 30-40 years, that should be our frame of reference. Not the 1920s let alone the 15th century.

@milycome 2 года назад

The standard of living is higher today then in the distant past not because of increases in wealth as much as advancements in technology.

@bevvy.bee9 2 года назад

Advancements in technology creates an increase in wealth because advancing technology has the potential to create value in an economy. Value that is often captured as better goods or cheaper goods.

@leleesmilesalot 2 года назад

It’s more like the value of life is higher than the standard. Too, the wrong unethical economic buttons are being pushed to create more barriers to entry.

@craigmak 2 года назад

Why do ppl think were worse off than the 50’s? High cost of housing, high cost of child care, high cost of college, astronomical cost of medical care. Adjusted for inflation, middle class salaries have gone down while the rich take more & more of the pie. Also, a single medical problem can land you in bankruptcy. You can’t live in a cell phone… rent is higher than a mortgage at the moment… it’s wild

@brianlittle717 2 года назад

The only thing we’ve really gotten better at is planned obsolescence. In other words, we’ve gotten much better at making products that are specifically designed to fail soon.

@YandryPozo 2 года назад

gotta be honest, this's my favorite channel on RU-vid, great work!

@alyssag830 2 года назад

Is life better then or now? It’s not just about finances...morality, family, connectedness

@leleesmilesalot 2 года назад

Nobody is really looking at the person next to them. Everyone really just wants to take care of themselves. They feel the kerplunk when there are tons of road blocks/barriers to entry. They are seeking an opportunity in a nation full of facade that just looks available on paper or glamorous on television.

@Corkfish1 2 года назад

I can attest to this. Im probably in the top 10% in terms of my net worth yet I still worry about money all the time!

@David-jm7mq 2 года назад

Thank you for continuing to bring thought provoking presentations to your subscribers.

@davidthurston3346 2 года назад

This was a reasoned conservative argument whose shortcomings are only in omission not in out right fabrication. This is how it's done. I disagree with some of it, but mostly I am not insulted by it and am prepared to argue against it's omissions in a constructive fashion. God willing this is the kernel of the return to the sensible conservative.

@moyndebs6759 2 года назад

I’m Nigerian(3rd world nation). America has issues but it’s better compared to most nations. My best nations are Scandinavian nations, New Zealand & Japan/South Korea. We should learn from them.👍

@malumnexus7919 2 года назад

While you are correct on the economic factor of America being much better off while many are complaining about life being worse off compared to fifty years ago, where I think the people making this comparison are correct has more to do with the massive sociological impact that has occured. The nuclear family being relatively destroyed, for instance.

@dontforgettolike7127 2 года назад

1:52 ya we’ll, that’s kind of how money works. If everyone has 1 million dollars, then nobody is rich.

@hensen5309 2 года назад

I was eating a burger and some lettuce fell on the screen and clicked this video. I’ll give it a shot and see what happens

@dallaskoivu8951 2 года назад

My grandfather used to turn on the hot water in the kitchen and turn on the light switch and say did you see that that’s a miracle never forget how lucky you are that that’s all you have to do for the convenience of hot water and light OK granted it’s not free whoever said it should be freeIt’s not free to produce

@robertcocciardi2772 Год назад

I believe that wealth on its own may be an incorrect way to define our financial worth. An old Italian immigrant said, “It is not how much money you have, but how much you spend that defines your wealth.”. For example, a person is a multi billionaire, but his debt is in 100 ‘s of billions. Also, wealth is measured differently depending on your culture and religious beliefs. So, in the USA we measure wealth by how much money you have, the possessions you have, the lifestyle you have. I am an American, and I do not measure wealth the American way. I am a very wealthy man. I thank God for the many blessings I have been given by my God. I am content to be where I am, who I am and blessed to be loved by spouse, family and friends. I believe I am blessed and that is enough for me. 👍❤️🙏🏼✝️🇺🇸

@CarrieSheffield 2 года назад

Love this, such a thoughtful message!

@BooAndLittlezDaddy 2 года назад

Nice job Troy. I’m looking forward to sharing these with my girls and letting them know about the dude with the smooth voiceover.

@cryptojoecoin5480 2 года назад

I agree. We do have a lot of money. The Fed printed 40% of the entire currency supply in 2020. My grandfather had 5 daughters, his wife didn’t work, he bought a new car every other year, and he bought his first house in the DC area for $19K. He was an HVAC mechanic. Ask yourself, are you better off than a blue collar high school educated HVAC mechanic living in the 1960s? This video is a lie.

@1m2rich 2 года назад

That is when we had a better tax system and a large middle class. GOP changed that over the last 40 years. It is worse than the last century with the fortune 500. Our companies were growing not off shored for a few rich CEOs.

@leleesmilesalot 2 года назад

“If you take away a people’s ability to innovate or create” 🎯 aka unnecessary licensing to operate.

@Bgrosz1 2 года назад

Excellent video. I don't have the issue of not understanding how good we have it. I do have the issue of trying to understand the people that can't understand this and who do everything in their power to destroy it.

@gaillewis5472 2 года назад

Antibiotics weren't available when the people in the intro died. That's not a wealth issue, that's a science issue.

@DrewPicklesTheDark Год назад

I think the people who say "It was better 50 years ago" are looking at it more from a spiritualistic perspective than a materialist one. By spiritualist I don't necessarily mean religious (though for many it can be), but just things like feeling fulfillment, purpose, etc.

@zackdreamcast 2 года назад

You lost me at 3:52 .yes we are all making more money but what is the true buying power of that income. Average new care in 1970 was $15k. Today that same new care is >$40,000.00

@rufinogarcia7724 2 года назад

Full of wisdom. Thanks. God bless

@tomchristian9932 2 года назад

Truth..thank you!

@matthewmaguire3554 2 года назад

If having money only had the intensity of not having money. Jewish Proverb

@royslapped4463 2 года назад

Love this video.

@douglasj.arcuri1370 2 года назад

Like the song said Hands full of money all in debt. Said in 1965.

@crawfordsmith3700 2 года назад

I watched all of this presentation.

@chazmiller1444 2 года назад

Great video... However having some knowledge of Venezuela's collapse I'm at a loss to find any connection in taking away their ability to innovate... What am I missing lol.. is this an attempt at making a cheap political point despite the facts?

@fearlessreview 2 года назад

Few paying premiums now for a more affordable/common tomorrow I hadn’t thought of that 🤯

@tarmstrong9906 Год назад

It's not about money me, it's about the way our healthcare is legislated. I been taking a certain medicine for 20 plus year's, and everything has been pretty smooth. 3 week's ago I flunked a drug test, flunked one test in 20 years and my family doctor cut off my medicine. So in three weeks I have had two mini strokes, two emergency room visits, and the evil bastard still won't give or prescribe me the medication that I pay for at pharmacy back so blood pressure will return to normal. Never had a high blood pressure reading in my entire life until the sob cut off my medicine. It's all about politics and government, they're murderers

@thebryantedwards6220 2 года назад

America doesn’t have a wage problem we have a priority problem.

@MrEckardt 2 года назад

The distribution of wealth is falling like a knife. So while advancing tech is making many things better, people have to work harder to survive. You could argue that a homeless person today is better off than the Rothschild family before, but I don’t really think it’s true. Still, I agree with the basic premise. I agree that most of us are richer than we feel because we compare. But it’s not reasonable to ignore the stress that the wealth gap is putting on many people

@MrEckardt 2 года назад

I should point out that my argument is comparing the poorest people of today to the richest people from the past.

@thomasmanning829 2 года назад

This is extremely generalized. But what the hell. It's how we're governed.

@ravenleavitt7900 Год назад

Did we ask the Americans that said that life is worse now than it was then, why they feel this way? I do feel it's far worse...and I reason that despite not dying from a blister, or looking stupid with a big cellphone. When people were making $3 an hour the cost of living scale was at least at reasonable scale...rent usually included heat and utilities, and Did not include cable, cell phone, cost and coverage, and most of the stuff you bought lasted at least 10 years...most of it is still around and serving its purpose. Everything you buy now...is garbage. Like I can actually go shopping to pick up stuff I need, and most of it doesn't work right, if at all. can-openers for instance...phone cords...shit even the phones themselves, for a decent one you spend $600, and that's a yearly purchase cuz you need the new model. You can't even drink water in America without an expensive filtration system cuz it that poisoned by anything from feces, to PFAS. Or flammable from fracking....instead of not having insulin or blisters being a cause of death...we get to worry about climate change, ai, social media, nuclear war, and pandemics whether the meds are actually safe...and our crooked government lying.

@andromedamessier3176 Год назад

I mean at least you didn’t get instant death, and long suffering. You are still suffer but more so because of lack in purpose, and thinking too much.

@marvwatkins7029 2 года назад

Yeah....but ..... And what about inflation and the huge wealth gap and the great reduction of the middle class? And all those homeless tent cities weren't around in the '70's either. How is all that "prosperity?

@digitalrhetoric8240 2 года назад

Cool video but I want to point out that you need health care to get access to antibiotics, which not all Americans have.

@aarone8740 Год назад

B TW; if you want to see true poverty; go to other countries and not the tourist areas! I was sad because I had no shoes!.... ...

@ericaikens5339 2 года назад

People are so ungrateful and Don't Count Their Blessings and want everything given to them sometimes you need to work for what you get then you will cherish what you have but until then the world has become a spoiled brat

@beammeupscotty3074 2 года назад

were blessed to see propoganda like this as illusions lol !!!!!!!

@3John-Bishop 2 года назад

The more money you make the more is taken back by the rich by higher prices of everything.

@tonka5 2 года назад

Somebody’s got a lot of money… not me

@robotdickens 2 года назад

I wish the dislike button was back. This just glosses over so many things in such a weird way. Stuff is more expensive and we aren’t getting more money in relation. The fuck are you on about? And that was just one of like seven things you talked about. Let’s not even get into medical debt.

@nativeamericancowboy5028 2 года назад

You are correct because everything’s relative. You can only be rich if you are surround by people who have far less than you. It doesn’t matter if it’s $100 compared to $5, or 1 billion dollars compared to 1 million. As long as you have a lot less than others around you, then you are poorer relative to them.

@newhampshirelifestyle4233 2 года назад

True, Our standard of living has increased dramatically in the past 50 years because of free market capitalism. False , that America is the wealthiest country in the world that goes to the UAE, Saudi Arabia and Quatar.

@tonka5 2 года назад

Be str8… you got money, not me

@marilynwargo6288 2 года назад

There are now approximately 15 million Millionaires in Amerika now!

@alpach9174 2 года назад

America is blessed by God and Americans as well..!

@thomascieslak7956 Год назад

That remains to be seen

@MrMochapuddin 2 года назад

Good content but , the background music is too loud for what’s being presented!

@rokyericksonroks 2 года назад

Colin Cowherd narrating?

@azlandpilotcar4450 2 года назад

These are better for Senek narration.

@1m2rich 2 года назад

Good jobs and benefits are gone for our off shored corporation profits.

@periklisspanos1003 2 года назад

You have it good but all the business are close smart people

@corwinjkabuki 2 года назад

This video definitely glosses over low aspects of life.

@anthonyenos2643 2 года назад

What good if have more money if a gallon of gas 8.00 a gallo

@adamloveshondas3122 Год назад

Then don’t buy it it’s only worth $8.00 if you pay for it 🤦🏼

@calvinbethea3369 2 года назад

Capitalism is designed around continuous consumption, enough is never enough. We also define our success based on material gain. We need a new model that focuses on sustainability.

@leleesmilesalot 2 года назад

You aren’t wealthier or richer just because the cost of living is higher.

@danielcoupland6438 2 года назад

Did the cia make this

@adamloveshondas3122 Год назад

Interesting perspective but some of these comments are funny 😂😂😂

@terywetherlow7970 2 года назад

1% doesn't seem like "alot".

@richrobinson6464 2 года назад

This video is misleading.

@elitetruckdrivers4843 2 года назад

Your never never is about to be present

@mysterydiaz5302 2 года назад

Could not listen. Background music Annoying and distracting.

@htainlindwa80 2 года назад

Yeah but cell phone and everything else cost $ 1000.00

@htainlindwa80 2 года назад

But that’s my check for 2 week and to mention rent. You must think we are stupid for telling us we have psychological problems.

@semenraskin4796 2 года назад

What are you talking about many of people cannot even buy a new car not a good clothes stop your propaganda

@user-xk4gf9jz8c 2 года назад

The thing in common that all of those poorer counties have is communism or socialism.

@ericharvey6057 2 года назад

The things those poor countries had in common is they had Vestamounts of resources and their governments That were democratically elected was overthrown by our government so we could exploit their resources leaving them desolate and poor

@user-xk4gf9jz8c 2 года назад

@@ericharvey6057 yea dont remember overthrowing venezuela

@user-xk4gf9jz8c 2 года назад

dont remember overthrowing north korea

@ericharvey6057 2 года назад

@@user-xk4gf9jz8c of course you don’t remember Venezuela but it happened look it up.

@user-xk4gf9jz8c 2 года назад

@@ericharvey6057 yea socializm destroyed it

@lancewood1410 2 года назад

Only people like Jeff bezos has money, not your average tax slave joe or John 🤣🤣🤣

@joshuag3125 2 года назад

Anti biotics You mis pronounce As anti bionics

@periklisspanos1003 2 года назад

Because you don’t have lots of money are thinking you don’t have lots of money,you have a lots of bragging good luck with that

@gordondavis6168 Год назад

With the internet, social media and cell phones, we all think that we are missing out on what everyone else is enjoying.

@danielcoupland6438 2 года назад

what the fuck 😭😭😭😭😭😭😭😭😭😭😭😭😭😭

@1m2rich 2 года назад

Poverty is back under GOP.

@Shadowfall-sx7cr Год назад

These people have no idea what their talking about.

@madhousediy5050 2 года назад

Pure propaganda

@Bigballer59 Год назад

Spoiled brats

@wuhanbiruSux 2 года назад

Trickle down economics? 🤣 tax cuts and overpriced monopoly drug prices no other country pays. Not even Canada 😡

@Bgrosz1 2 года назад

You are the reason for this video. You have the drugs available that were not available to anyone in even the recent past but your focus is on comparing yourself to this other person that can pay a little less for it. And obviously your derision of trickle down economics was also handled in this video where our yearly growth often exceeds entire centuries of grown in the past. But that's not good enough. You aren't as rich as your neighbor and you pay a little more for drugs than a Canadian. You effectively won multiple lotteries in a row by being born in the present time and in America. Why so bitter?

@silicalnz 2 года назад

@@Bgrosz1 It's not "a little more", it's the difference between people going bankrupt in order to live and not having to do that.

@wuhanbiruSux 2 года назад

@@Bgrosz1 a little more for drugs? When the r&d are done by government grants, usually by the military? Say the hiv prevention drug truvada which Gilead CEO got grilled. It's $400 in Canada while it's still $2000 in the US? That's not a little more.

@Bgrosz1 2 года назад

@@wuhanbiruSux , It shouldn't be that case anymore because the patent expired in 2020. But prior to the patent expiring, the drug company that poured millions into it's development and testing needs to make that money back. If people don't make their money back from R&D, then they don't do the R&D and there is no drug. This goes right back to the video where the most powerful and rich people not that long ago couldn't solve some of the most basic medical problems. But you are focused on the temporary situation where a drug company has to make their R&D investment back.

@banicata 2 года назад

@@Bgrosz1 you're acting like outrageous prices only apply to patented drugs during their protection period. Not true. For example, a copper IUD is a very simple device to manufacture, the patent has long expired and it still costs $1000. Why? Because they can. It's true that life in the US is good for the most part. But there's no reason not to criticize problems that have a solution.