by Panos Mourdoukoutas
For the vast majority of Americans, their nation’s economy is in a prolonged stagnation, far worse than that of Japan. When it comes to real income that is–income adjusted for inflation.
90 percent of Americans earns roughly the same real income today as they earned back in the early 1970s, according to a recent study released by The Levy Economic Institute (Figure 6).
Japan’s economic stagnation reaches back to the early 1990s.
Economic stagnation didn’t reach the remaining 10 percent of the population, which has seen a sharp rise in their real incomes over the same period.