The Comparison of America's Deep Affluence

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There is still a very real difference in the kind of way in which college-educated American lives and what they take for granted. It's extreme when it comes to professions like lawyers and doctors, which just make more money in the United States than they do across Europe. Yasha: Why is it that over the last 30 years America's economy has kept up with average growth around the world?

Jason Furman is a professor of economics in the Economics Department at Harvard and at the Harvard Kennedy School. He also served as the chair of the Council of Economic Advisers under President Barack Obama.

In this week’s conversation, Yascha Mounk and Jason Furman discuss the causes of today’s persistent inflation in the US and whether it is likely to continue; how concerned we should be about the recent failures of mid-sized regional banks; and why America’s share of world GDP has remained resilient over the past decades even though it sometimes feels dysfunctional relative to other developed economies like Germany and Japan.

This transcript has been condensed and lightly edited for clarity.

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