Why Millennials Are Sour on the Economy

As Americans become more negative about the state of their society, a number of people have tried to cheer them up by reminding them of the improvements made, both inside their society and out. The Cato Institute’s Human Progress project puts out a steady stream of data about improved living standards and social indicators in the U.S. and around the world. Psychologist Steven Pinker writes popular books about the topic. Technologists trumpet the impressive range of new goods that people can buy, while economists remind us that poverty and want are falling rapidly across the world.

And yet, many Americans resolutely refuse to cheer up. Perhaps the problem is partisan politics, and the country’s bitter culture war. Perhaps it’s the effect of social media, selecting the most negative events and pushing them into our faces 24/7, making bad news seem more common even if it’s actually more rare.