This chapter delves into the misconceptions surrounding nostalgia and examines how romanticized views of past eras obscure the true hardships faced by individuals, particularly during the 1950s and Middle Ages. It critiques the portrayal of historical lifestyles and highlights the ongoing stereotypes related to poverty, emphasizing the systemic barriers that have perpetuated struggles across different periods.
The universe, points out economist Noah Smith, is always trying to kill us, whether through asteroids hurtling through space or our every-few-hours hunger pains. Why, then, should we expect anything but a gravitational pull toward poverty? Listen as Smith explains to EconTalk's Russ Roberts why he believes that poverty will always be our "elemental foe," and how what he calls "industrial modernity" is key to keeping poverty at bay. They also discuss Smith's impatience with the "degrowth movement," which he thinks jeopardizes our gains in the fight against the elemental foe.