EconAir

Age and Class in America             As an economist, I define class in economic terms. In the past, income and income inequality were usually the main determinants. Now it is a combination of income and wealth (actual and potential) as more Americans grow old and retire.   There are four classes in America:   1) seniors over 65 with assets (wealth) and their inheriting children or relatives. Demographically, the fastest growing class.The number of seniors is expected to double over the next 35 years while the number of all Americans is expected to decre           Total U.S. household net worth reached a record  $166.7 trillion  in the first quarter of 2026, according to the   Federal Reserve's Financial Accounts of the United States . This reflects the total value of all assets (like real estate, equities, and bank deposits) minus all liabilities (like mortgages ...

There are a number of forecasts of what the world will be like after the virus. Let’s take a look at some of them. Many long-term trends have been accelerated by the virus.  Probably the most cited example has been the accelerated move to digital-based transactions and behavior. This has occurred among both consumers and businesses. I think we have hit an inflection point. Before, there was a great deal of discussion about how one industry or market was becoming more dependent on digital platforms and automation based on artificial intelligence. The Internet of Things, online shopping and ordering, business conferencing, telemedicine. Or how a particular company was transforming an industry (Amazon, Uber). But now we see that the entire economy –  al l industries and markets – rely on digital. The technology and rapid adaptation are accelerating the shifts. Income inequality is bad and probably getting worse.  The usual reasons given are outsourcing in th...