For each of us our family economy is more important than the national economy. But the discipline of economics has forgotten the family economy. And the family economy is in a crisis that long predates the present recession / depression. Between 1955 and 1969 the Gross Domestic Product of the United States grew by 70 %, and the median family income almost kept pace, growing by 63%. Contrast that 63% growth in a decade and a half with what happened over the next three decades: Between 1969 and 2000 the Gross Domestic Product grew by 160% but the median family income growing by only 13% --- eleven times slower. What is going on? This lecture (by a non-economist) will shed some light but likely raise even more questions on this central economic problem that has gone unaddressed for decades.

Students and families: this lecture is recommended for 8th grade and older. You can sign up for future updates about this lecture or future lectures by going to this website.

Patrick F. Fagan is Senior Fellow and Director of the Center for Family and Religion at the Family Research Council, where he examines the relationships among family, marriage, religion, community, and America's social problems as illustrated in the social sciences research data. The Center has a particular emphasis on the relationship between marital stability coupled with the practice of religion and their joint impacts on such issues as happiness, health, mental health and general well being, income and savings, educational attainment and family stability as well as such negative outcomes as poverty, crime, abuse, and drug addiction.

A native of Ireland, Fagan earned his Bachelor of Social Science degree with a double major in sociology and social administration, and a professional graduate degree in psychology (dip. psych.) as well as a Ph.D. in social policy from University College Dublin.

Fagan started his career as a grade school teacher in Cork, Ireland, then returned to college to become a psychologist, going to Canada to practice then to Washington, D.C. to pursue a doctorate in clinical psychology. In 1984, Fagan moved from the clinical world into the public policy arena, to work on family issues at the Free Congress Foundation. After that he worked for Senator Dan Coats of Indiana, then was appointed Deputy Assistant Secretary for Family and Community Policy at the U.S. Department of Health and Human Services by President George H.W. Bush, before spending the next thirteen years at the Heritage Foundation where he was a senior fellow.

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