Odd Lots Why The World Is Getting Angrier, And What Says About The Economy
Jul 6, 2020
Eric Lonergan, a macro hedge fund manager and co-author of "Angrynomics," delves into the rising tide of anger in contemporary society. He explores how economic struggles and social media stoke this emotion, linking it to shifts in policy. The discussion highlights the dual nature of anger, from ethical responses to injustices to tribal instincts born of scarcity. Lonergan advocates for transforming this outrage into innovative public policy that addresses inequality and promotes sustainable growth, all while rethinking our economic discourse.
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Anger's History and Current Prevalence
- Anger has existed as long as humans, serving a function.
- Current anger isn't unique; economic hardship historically triggers anger, like after the 2008 crisis.
Two Types of Public Anger
- Public anger has two types: moral outrage (injustice) and tribal energy (group loyalty).
- Moral outrage regulates norms, while tribal energy solves collective action problems, often by invoking scarcity.
Private vs. Public Anger
- Private anger differs from public anger; it often signals internal struggles.
- The interplay of public and private anger with the economy has macro and micro consequences.
