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Ryan McMaken: Are We Getting Poorer?

Mises Weekends with Jeff Deist

Tags U.S. Economy

01/19/2018Ryan McMakenJeff Deist

By every measure extreme poverty in Third World nations is decreasing rapidly. But what about the US and the West? Economist and editor Ryan McMaken joins Jeff Deist for a wide-ranging discussion of what makes people rich, and how economists should measure wealth. This great discussion explains the decline of real incomes and savings rates in the West, the moral hazards created by central banks, and how a happy combination of technology and market innovation often manages to outpace rapacious governments. Is deflation, horribly mischaracterized by economists, the real source of wealth in a society? And should we judge our personal finances in terms of net worth or lifestyle?

Note: The views expressed on are not necessarily those of the Mises Institute.

Contact Ryan McMaken

Ryan McMaken (@ryanmcmaken) is executive editor at the Mises Institute. Send him your article submissions for the Mises Wire and Power and Market, but read article guidelines first. Ryan has a bachelor's degree in economics and a master's degree in public policy and international relations from the University of Colorado. He was a housing economist for the State of Colorado. He is the author of Breaking Away: The Case of Secession, Radical Decentralization, and Smaller Polities and Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.

Contact Jeff Deist

Jeff Deist is former president of the Mises Institute. He is a writer, public speaker, and advocate for property, markets, and civil society. Jeff was chief of staff to Congressman Ron Paul. Contact: email; Twitter.