The US economy’s trust deficit

While official data often paints a rosy picture, many Americans experience a different reality. Spence points to soaring wealth inequality, where the bottom 50% of households hold a tiny fraction of total wealth, leaving them vulnerable and distrustful of optimistic narratives. This distrust, coupled with declining faith in traditional media and government, creates an opening for misinformation and polarization, particularly on social media. Overcoming this divide and reestablishing a mutual understanding of the economic landscape is imperative, yet it is met with substantial obstacles in the current societal climate.

Read the full article here.