In a recent New York Times column, Bret Stephens argued that the political opposition needs to “celebrate prosperity, not deny or trivialize it.” He has a point. We are in the midst of a historic expansion, with record low unemployment, rising wages and low inflation. That is something to celebrate.
However, what Stephens failed to address is that, in the midst of all this prosperity, there is considerable anxiety about the economy. Some of this anxiety can be quantified in statistics like rising income inequality, national debt, credit card debt and the fact that 40% of Americans can’t cover a $400 emergency expense.
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