The 1950s Mirage (John H. Cochrane, 1/22/26, Coolidge Review)
Look at standards of living. Real gross domestic product per capita sat below $19,000 in 1955. In 2025 it approached $69,500. These figures are expressed in 2017 dollars, thus accounting for inflation. They show that the average American is about 3.7 times better off today than in 1955. It’s not even close.