Occasionally, a phrase emerges within public discourse, catching attention due to its frequency and resonance.
Recently, one such phrase has been: “We’ve officially entered the Golden Age of America.” Just last week, a client texted me this statement, prompting me to think deeply about its implications.
This assertion is indeed bold—perhaps even unsettling—especially considering the trials we’ve faced in recent years, including a pandemic, inflation, political strife, and a surrounding atmosphere of pessimism.
Yet, an increasing number of individuals are declaring this sentiment with confidence, not hesitance. So, what’s driving this optimism?
The Case for Optimism
Advocates for the idea of a golden age often point to technological advancements, and their reasoning is sound.
Artificial intelligence has transitioned from conceptual discussions to practical applications astonishingly quickly. Tasks that once took considerable time can now be completed in mere minutes, leading to a radical rethinking of entire industries. Historical patterns indicate that significant boosts in productivity typically usher in substantial economic growth.
We’ve witnessed similar scenarios in the past—during the Industrial Revolution, the postwar manufacturing era, and the early Internet boom. Each of these periods felt tumultuous at the time but retrospectively marked significant progress.
Additionally, there’s the factor of resilience.
In the last decade, the United States has effectively navigated trade disruptions, a global shutdown, rising inflation, banking crises, and geopolitical tensions. Despite these challenges, investment continues to flow robustly into American markets.
The dollar remains the dominant currency, and U.S. companies continue to lead on a global scale. In contrast, many comparable economies grapple with issues like demographic decline, energy dependencies, or long-term stagnation.
While relative strength may not always feel like strength domestically, in international terms, it holds significant weight.
The Counterargument
Despite the growing chorus of those celebrating a golden age, skepticism persists.
Challenges such as housing affordability, rising healthcare costs, income inequality, and eroded trust in institutions remain pressing issues. For many families, any notion of an economic renaissance seems disconnected from their lived experiences.
This skepticism is healthy. Historically, golden ages have rarely benefited everyone equally; they often favor those who adapt swiftly while leaving others behind.
The Real Question
This brings us to the crux of the matter.
Golden ages aren’t typically proclaimed by historians. They are declared by those experiencing them, often in the midst of ongoing debate.
A more pertinent question than whether we are in a golden age is: Are you prepared to benefit if we are?
As history demonstrates, periods of rapid transformation do not wait for general consensus. They reward individuals who are well-prepared, adaptable, and forward-thinking while punishing complacency.
Whether this era will be remembered as a golden age or simply as another lost opportunity will likely hinge more on personal choices than on national narratives.
Ultimately, those choices remain firmly within our grasp.
Allen C. Buchanan, SIOR, is a principal with Lee & Associates Commercial Real Estate Services in Orange. He can be contacted at abuchanan@lee-associates.com or 714.564.7104.
