Final answer:
Older Americans have seen an improved standard of living in recent decades, with advancements in healthcare, income, and education, although the full extent of this improvement is not always depicted by GDP alone. Changes in income inequality and economic structures have also affected elderly wellbeing.
Step-by-step explanation:
The question addresses the notion that the average condition of older Americans has improved in recent decades according to various measures such as income, health status, and educational level. Sociological studies have shown a trend towards increases in the standard of living with advancements in healthcare, more accessible medicine, and higher prosperity leading to older individuals living longer. As a result, many continue working past the traditional retirement age, thereby increasing their financial security. The rise in the GDP often does not fully capture improvements in leisure, health, technology, and environmental conditions that markedly contribute to an overall better standard of living. Additionally, the patterns of income inequality have shifted, influencing perspectives on economic welfare and adjustments in the social dynamics involving the elderly, especially during periods of economic downturns such as the Great Recession.