The US economy has experienced remarkable growth over the past few decades, surpassing that of other high-income countries. However, a new report card released by a group of scholars finds that this success has not led to rising living standards for most Americans.
According to the report, the United States ranks second in economic output behind only China, but lags behind many other rich countries in terms of well-being. The US has the lowest life expectancy and highest murder rate among rich countries, as well as one of the lowest rates of trust in government.
Scholars point to several factors contributing to this disparity. Many believe that the country’s focus on economic growth at all costs has come at the expense of public health and happiness. Social isolation is also a major concern, with Americans spending less time in group activities and more time staring at their phones.
Inequality is another significant issue, as the wealth gap between the rich and poor has only widened. The report’s authors argue that this inequality has led to a sense of disconnection among many Americans, who feel that it is their own fault if they are not succeeding.
Some experts suggest that affluence itself may be a major contributor to these problems, citing the negative effects of rising incomes on obesity and mental health. Others point to “bad luck,” arguing that recent economic crises and pandemics have taken a toll on the national mood.
The report’s findings raise important questions about the true cost of economic growth and the need for policymakers to prioritize well-being alongside productivity.
Source: https://www.nytimes.com/2025/02/04/briefing/the-us-economy-is-racing-ahead-almost-everything-else-is-falling-behind.html