In the late teens, there was this combination of things happening that you sort of shouldn't be allowed to get. The goldi locks era i'm thinking of is the period leading up to the pandemic rit the sort of late teens in the us. It was a good time to be a worker. There was demand for workers. Workers even at the lower end of the income distribution were getting raises. And so all of these things made for a really good, robust economy. You very often can't have all of them together.
The stock market tumble and crypto crash are symptoms of a broader shift in the US economy. Jacob Goldstein explains the end of the “Goldilocks Era.”
This episode was produced by Miles Bryan, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Paul Mounsey, hosted by Noel King.
Transcript at vox.com/todayexplained
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