The Mona Charen Show Debunking Populist Myths
Feb 17, 2025
Michael Strain, Director of Economic Policy Studies at the American Enterprise Institute and author of "The American Dream Is Not Dead," explores misconceptions regarding middle-class stagnation and quality of life. He dissects the rise of populist ideologies, revealing how they misdiagnose economic issues. Strain argues that advancements in healthcare and family dynamics challenge the idea of a rigged system. He also discusses the significance of institutional trust for economic stability, and critiques the educational disparities arising from recent challenges.
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Middle-Class Stagnation and Populism
- The claim of middle-class stagnation fuels populism on both the left and right.
- This claim is central to their narrative about the economy and the American dream.
The "Rigged System" Myth
- The idea of a rigged economic system is a common, yet flawed, populist claim.
- It's statistically improbable and misrepresents how economic systems function.
Real Wage Growth
- Real wages for typical workers have increased by over 40% in the last three and a half decades.
- This growth accounts for inflation, including housing, education, and childcare.
