Allison Schrager

The good news is that Americans have never been richer. The bad news is that most of them don’t feel like it.

There has been tremendous growth in income and wealth in the U.S. in the last half century, even for poorer and middle-class households. But because of the nature of that growth, as well as the changing structure of the national economy, a lot of the people who have benefited also believe that the economy isn’t working for them.

Allison Schrager is a Bloomberg Opinion columnist covering economics, a senior fellow at the Manhattan Institute and an author.

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