Luckiest Generation?

To demonstrate how free market capitalism and “the miracle of the marketplace” generate increased prosperity over time for average (and especially low-income) Americans, economist W. Michael Cox (currently the Director of the O’Neil Center for Global Markets and Freedom at Southern Methodist University’s Cox School of Business) has compared the purchases at different points in time from the income earned by college-bound teenagers working at a full-time, minimum-wage for 12 weeks during the summer (ignoring taxes).