mises.org / Ryan McMaken / November 11, 2016
In recent articles and interviews, David Stockman has noted the divergence between economic indicators in large coastal urban centers, and those in the so-called Flyover States. The “flyover zone” constitutes those parts of the country outside the handful of major cities that benefit directly from the Fed’s easy money policies and the ongoing financialization of the economy at the expense of ordinary “main street” industries.
But just how big is this difference? Looking at median incomes can help expose some of the divergence.
In the past, we have looked at median incomes in the United States overall and found that, by several different measures, that median incomes (both household and individual) are declining in the United States.
But what about growth when measured on a state-by-state basis?
When we do this, we do find some very real regional trends, not surprisingly. In the US overall, median houshold income fell 2.2 percent from 2000 to 2015. Meanwhile, while household incomes have been either flat or growing throughout most of the Northeast and the West Coast since 2000, it has been a very different story in the Deep South and the industrial Midwest. Measured for the period from 2000 to 2015.