Stagnating Economic Well-Being and Unrelenting Inequality: Post-2000 Trends in the United States

Ajit Zacharias, Thomas Masterson and Fernando Rios-Avila ()

Economics Public Policy Brief Archive from Levy Economics Institute

Abstract: Ajit Zacharias, Thomas Masterson, and Fernando Rios-Avila update the Levy Institute Measure of Economic Well-Being (LIMEW) for US households for the period 2000-13. The LIMEW--which comprises base income, income from wealth, net government expenditures, and the value of household production--is aimed at achieving a more comprehensive understanding of trends in living standards. This policy brief analyzes developments during this period at all levels of the LIMEW distribution, with a particular focus on the significant role played by net government expenditures. The overall trend for 2000-13 was one of historic stagnation in the growth of economic well-being for US households, but an examination of the different components of the measure reveals significant shifts taking place behind this headline trend. A companion document, the Supplemental Tables, features additional data referenced in the policy brief.

Date: 2018-06
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