As Section I illustrates, America is in the midst of an economic transformation. This section examines its impact on the well-being of Americans. The means to these end results may change in new economic times, but the importance of the end results themselves does not. Conventional indicators give the appearance of strong economic performance.
Jobs are up.
Inflation and unemployment are down. And despite recent volatility, the stock market has boomed in the 1990s. However, more fundamental measures of economic well-being, particularly per capita GDP, productivity, and wage inequality, suggest that the New Economy has not yet realized its full potential.