Where Your Treasure Is

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Where Your Treasure Is B y B r u ce W y dic k

Yvonne Valenza

Indeed, things seem bad for the American economy today. But the truth is that economics is always relative.Yes, many of us are worse off than we were a year ago, but let’s move the lens back a little and look at the bigger picture. Despite our current problems, we live in the wealthiest society in the history of the world. Gross domestic product in the United States today (the total income created within our national borders) is about $13 trillion, more than all the countries in the poorest half of the world combined. The yearly income my state of California produces is $1.5 trillion, more than the total yearly income of all of Latin America.The income of the San Francisco Bay Area, about $400 billion per year, is greater than that of sub-Saharan Africa, and more than 10 times greater than the combined yearly income of Central America. Even within my hometown, Berkeley, the yearly income of our 120,000 residents (about $10 billion) is roughly equal to that of the entire country of Guatemala. Yes, times are hard, relatively speaking. But compared to just about any other people, in any other time, we are materially blessed beyond measure. In fact, we may be the victims of the success of our own economic system, for we have come to

PRISM 2009

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