How Liberal Elites Fail To Understand Economic Anxiety
There is an ideological tendency among some liberal economists today that wants us to believe that Bidenomics has been the best thing since President Franklin D. Roosevelt’s New Deal. A key advocate of this belief is economist and New York Times columnist Paul Krugman. On September 7th, 2023, Krugman published an article titled “I’m OK, But Things Are Terrible” in which he claimed there is a disconnect between actual economic conditions and perceptions about the economy: “[t]he strange thing is that these bad ratings are persisting even as the economy, by any normal measure, has been doing extremely well.” Krugman and others who are fans of Bidenomics find it odd that when workers are asked about “the economy” their views are generally negative.