US economy: an exceptional boom or a bubble to burst? – Michael Roberts
US economy: better than bad, but not that good.
“Moreover, the relatively better performance of the US capitalist economy over the other advanced economies does not indicate whether average Americans are doing better. As the FT article admits: ‘For all its economic power, the US has the largest income inequality in the G7, coupled with the lowest life expectancy and the highest housing costs, according to the OECD. Market competition is limited and millions of workers endure unstable employment conditions.‘ Hardly a recruitment poster for living in the US, even if stock market investors don’t care about that.”
Providing health insurance to all citizens is a major factor in longer life expectancy:
“Overall, life expectancy in countries and territories with- publicly funded health care (Mean (m) = 76.7 years) was significantly longer compared to countries and territories without- publicly funded health care (m = 66.8 years, P < 0.0001).”
List of countries by health insurance coverage – Wiki
Most countries with advanced economies cover 100% of their population or provide near universal health coverage. The US covers 92% – which means that about 27 million people are left out.
BTW: