America’s Era of Bad Feelings Threatens the World
If the US can’t overcome its deepening internal divisions, the enduring strength of its economy could come with a sting in the tail.
A rerun could be hazardous to the world’s economic health.
Photographer: Win McNamee/Getty Images
After the War of 1812, historians talked of the birth of “an era of good feelings” in America. The current era should be dubbed “the era of bad feelings.” Three-quarters of Americans (76%) tell pollsters that the country is headed in the wrong direction. Thirty-seven percent say that the problems are so bad that the US is in danger of failing as a nation. Republicans and Democrats are scarcely on speaking terms, and the country is heading into an election year under a cloud of social disruption, political dysfunction and rampant disinformation.
Yet in one vital area the US has lost none of its elan. By just about any measure, America’s economy is storming ahead of its industrialized peers. It is certainly odd that this is not causing more good cheer on the domestic front, particularly given that the economy expanded at an annualized rate of 4.9% in the third quarter. Odder still is the fact that the contrast between America’s hegemonic economy and its dysfunctional politics is not causing more global angst about what will happen if the bull elephant goes rogue.