| By every measure extreme poverty in Third World nations is decreasing rapidly. But what about the US and the West? Economist and mises.org 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? |
Ryan McMaken is the editor of Mises Wire and The Austrian. Send him your article submissions, but read article guidelines first. (Contact: email; twitter.) Ryan has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.
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