An exploration with economist Noah Smith on why public sentiment about the US economy often contrasts with hard economic facts.
In a time when dubious media narratives about the economy often overshadow hard data, the latest episode of the WhoWhatWhy podcast features Noah Smith, the thought-provoking economist behind Noahpinion substack. Smith’s analysis of “vibes vs. data” sheds light on the interplay between public sentiment and tangible economic metrics in the US.
Smith says the US is unique in that economic perceptions here are more heavily influenced by emotion-driven narratives than by hard data. This contrasts sharply with Europe and Asia, where data and sentiment are more closely aligned.
For example, despite encouraging economic indicators like falling inflation and low unemployment, Smith points out a striking paradox: Consumer…
