Everything’s Amazing and Nobody’s Happy | Econ Chronicles

People tend to think the world is much worse off than it actually is. Bad news gets a lot more attention than good news. Professor Bryan Caplan calls this “Pessimistic Bias,” and argues that it affects the policies people  vote for. Despite the amazing economic gains of the past 100 years and even the past decade, most people are under the impression that things are just getting worse. But Prof. Caplan argues that even with all the tough problems in the world, there is reason for optimism; contrary to most people’s expectations, he contends that the best is yet to come.

Hat tip to Louis C.K.

9 Comments

  1. Damian Gunjak

    While this has been the fact, the middle class and the structural unemployment in US economy is definitely kicking ass and taking names.

  2. asexymind

    Kings and nobles ain’t got nothin’ on us. My bed is probably even better than theirs. they never got to see Breaking Bad.

  3. joeodo

    Ok before the 1900s we were on the gold stanard and we did not have income taxes( life tax).  Now how much would $3 in gold be worth from then be worth now?  also take in to effect the income tax social security which the current generations and future  will never see.  then we add in  home owners tax, water tax, gas tax,  then what is our current incomes.  you forgot about all those don’t just go by the gross income. 

  4. Lukas Koube

    yup, people underestimate how fast the standard of living is raising….so much quibbling over inequality in our system, but even the very poorest people are seeing massive improvements in their lives. 

  5. gedjr07

    I’m optimistic over the long run, however, I see nothing good coming in the short run from our monetary policy. We may be taking a step back before lunging forward. 

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