By any reasonable measure, the human race is better off now than ever. As recently as 100 years ago we lived till 50 (if lucky), died of wars, starvation, infections, a number of diseases, and primitive medical care. Overwhelming majority of people were born to their stations in life and remained there until the end. In short, the life of an average human beign was short, cruel, and violent.
In contrast, today billions of people have been lifted out of poverty, have access to some sort fo medical care, able to advance the lives of their children beyond the levels of their own, and can occupy themselves with more than just worrying about where their next meal is coming from. The average life expectancy has risen to over 60 (and over 80 in the developed nations), and majority of mass0killing diseases have been conquered. This doesn't apply to everyone, but to a larger percentage than ever before.
So, why all of the discontent about the economic issues? Everywhere you look, people are protesting their plight and looking for someone to blame. Why is it that when things are at the their best for the human race, we seem to be as unhappy as ever?
A closer look at the situation reveals some of the root causes. You will note that most of the discontent is being expressed in the developed countries. With the developing countries finally reaching the economic maturity, they have been attracting the investment that used to stay in the developed countries. In, short, they have been offering the same skills for less money. This has resulted in wealth re-distribution from the wealthy countries to the poorer ones. Good for the human race, not so good for the guy who used to make $35 per hour on the ford assembly line in Detroit. This is not a simple issue and will take many years to rectify, but many will be impacted in the meanwhile.
In the US, when we faced similar shift in the past, I think we did it with much stronger and resilient populace. Today, I fear we can't be as certain. Baby Boomers did it again - they smoked and protested in the 60s, they destroyed the education system that gave THEM the best education, they raised kids who never heard a "no" and believed they are god's gift to earth, they piled up entitlements for themselves and for their kids without paying for them, they are retiring and their children with $100k worthless degrees and without any skills are now demanding something they think is owed to them.
You take these two trends together, and it more than explains what we are witnessing today. I think it will take a while.
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