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In 1980, the American standard of living was the highest among the industrial countries, according to the OECD. Out of the 85 million households in the United States, 64% owned their own living quarters, 55% had at least two TV sets, and 51% had more than one vehicle.
Gordon considers that the apparent increasing economic growth since 1970 is just a faint echo of a great wave of economic growth between 1920 and 1970. The first half of the book discusses the change in the American standard of living pre-WW2, with the second half dedicated to the remainder of the 'special century' and the years post-1970. [3] [4]
Standard of living might be evaluated using a number of characteristics including as the quality and availability of employment, real income, disposable income, class disparity, poverty rate, quality and housing affordability, hours of work required to purchase necessities, gross domestic product, inflation rate, amount of leisure time, access to and quality of healthcare, quality and ...
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
The source used is the Economic Research Service of the United States Department of Agriculture. Below is the median household income, majority minority status and Presidential election voting history for each county or their equivalent, with an income greater than or equal $75,000, in the United States for each category as used by the map above.
View history; Tools. Tools. ... Pages in category "Standard of living" ... Standard of living in the United States This page was last ...
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According to Dennis Gilbert roughly one quarter, 25%, of US households were in the lower classes; 13% were members among the working poor while 12% were members of the underclass. While many in the lower working class are employed in service jobs, lack of participation in the labor force remains the main cause for the economic plight ...