American dream moves to Canada
Rough, tough, American capitalism is no longer winning out against other affluent countries. @bloombergopinion's Justin Fox writes that, as of 2016, Canada pulled ahead of the U.S. in median household income by one measure. A closer look reveals that, while U.S. residents at the top of the income distribution make a lot more than Canadians at the top,
Canadians at the bottom and in the middle have the advantage. With added benefits such as free health care, being a middle-class Canadian is good for your economic well-being. It's not just Canada that the U.S. has fallen behind either. Between 1980-2018, per capita GDP in the U.S. and Europe grew at the same annual rate of 1.5%, yet as U.S. growth has been concentrated at the very top, Americans in the middle and bottom have lost ground.
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