The Withering of the Affluent Society
Though Americans see upward mobility as their birthright, that assumption faces growing challenges, with consequences not just for the size of our wallets but for the tenor of our politics.
"The future of affluence is not what it used to be. Americans have long believed—it’s part of our national character—that our economic well-being will constantly increase. We see ourselves as a striving, inventive, and pragmatic people destined for higher living standards. History is a continuum of progress, from Robert Fulton’s steamboat to Henry Ford’s assembly line to Bill Gates’ software. Every generation will live better than its predecessors.
Well, maybe not."
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