Americans Hate Inflation More Than They Hate Unemployment

Metadata

  • Author: Noah Smith
  • Full Title: Americans Hate Inflation More Than They Hate Unemployment
  • Category:articles
  • Summary: Inflation makes voters angrier than unemployment because it reduces their purchasing power and affects a larger number of people. The inflation of 2021-22 severely hurt Americans’ real wages, leading to widespread dissatisfaction. This dissatisfaction can significantly impact elections, as seen in past political shifts linked to inflation concerns.
  • URL: https://www.noahpinion.blog/p/americans-hate-inflation-more-than

Highlights

  • People care about inflation more than about unemployment (View Highlight)
  • in general, the harms of inflation are diffuse while the harms of unemployment are concentrated. (View Highlight)
  • if unemployment harms 10 million people a lot, and inflation harms 200 million people by a moderate amount, it’s clear that inflation will directly harm a much larger number of voters. (View Highlight)