Stagnating Economic Well-Being Amid Rising Government Support

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

Economics One-Pager Archive from Levy Economics Institute

Abstract: The Levy Institute Measure of Economic Well-Being (LIMEW) was designed to provide a more comprehensive understanding of the changes affecting household living standards. Ajit Zacharias, Thomas Masterson, and Fernando Rios-Avila summarize their latest research on the trends in economic well-being for US households. They reveal historic stagnation in LIMEW growth over the 2000-13 period, as well as a major shift in the composition of well-being. The post-2000 period can be characterized as one of a growing dependence on the government to sustain living standards, with rising net government expenditures offsetting a sharp drop in base income.

Date: 2018-09
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