The economy is doing well. So why do so many people hate it?
by about 30 percent over the last couple of decades. Our culture and politics are increasingly driven by this rising wave of unhappiness.
, I think there’s a lamentable tendency for commentators across the ideological spectrum to marshal the opioid crisis as a demonstration of whatever diffuse social trend they wish to condemn. Certainly, that crisis has some socioeconomic and social determinants. But I think there’s good reason to think that it is primarily the product of highly contingent policy decisions and technological developments.extremely weak.
One possibility is that, after enjoying largely stable prices for decades, Americans simply have little tolerance for inflation. Sure, their wages may have grown faster than prices since February 2020. But voters might be inclined to attribute their income gains to their own efforts, while blaming rising prices on the government’s mismanagement.
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