“Make America Great Again,” the slogan of President-elect Donald J. Trump's successful election campaign, has been etched in the national consciousness. But it is hard to know what to make of those vague words.
We don't have a clear definition of “great,” for example, or of the historical moment when, presumably, America was truly great. From an economic standpoint, we can't be talking about national wealth, because the country is wealthier than it has ever been: Real per capita household net worth has reached a record high, as Federal Reserve Board data shows.
Read Full Article »