Vox, January 9, 2024, Are $18 Big Macs The Price Of Falling Inequality?
For months now, political observers have been squabbling over whether the Biden economy’s unpopularity reflects its genuine weaknesses or voters’ collective failure to recognize its virtues. On the one hand, the president did preside over a sustained period of exceptionally high inflation. On the other, Americans’ real wages and net worths are higher than they were before the pandemic, unemployment is near historic lows, paychecks are rising faster than prices, and economic growth exceeded 5 percent in the third quarter of 2023.
