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Javier E

Led by Its Youth, U.S. Sinks in World Happiness Report - The New York Times - 0 views

www.nytimes.com/...ppiness-report-finland-us.html

youth happiness report world us decline culture history crisis

shared by Javier E on 22 Mar 24 - No Cached
  • Each year, it’s no surprise that Finland tops the annual World Happiness Report. And this year was no different, marking the country’s seventh consecutive year doing so
  • Americans — particularly those under 30 — have become drastically less happy in recent years
  • the latest data point in what some researchers have described as a crisis among America’s youth.
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  • For the first time since the first World Happiness Report was published in 2012, the United States fell out of the Top 20 and dropped to 23rd, pushed down by cratering attitudes of Americans under 30.
  • Americans have long been an unhappy bunch. They have never ranked in the Top 10 of the World Happiness Report, which is based on how respondents in different countries rate their own happiness.
  • cited the disruptions to life brought about by the coronavirus pandemic as a chief cause of mental health challenges among younger Americans.
  • The happiest young people are in Lithuania, while the unhappiest are in Afghanistan.
  • “I have never seen such an extreme change,” John Helliwell, an economist and a co-author of the report, said in an interview, referring to the drop in happiness among younger people. “This has all happened in the last 10 years, and it’s mainly in the English-language countries. There isn’t this drop in the world as a whole.”
  • Respondents were asked — among other prompts — to think of their life as a ladder and to rate it on a scale of one to 10, with 10 being the best possible life.
  • this was the first time that the consortium separated results by age, finding disparities in the views of younger and older Americans. Among the 143 countries surveyed, the United States ranked 10th for people 60 and older, but 62nd for people under 30.
  • Jade Song, a 27-year-old novelist, counted herself among those who had become increasingly unhappy in recent years.
  • “Many of the things that would have normally taken place for people, particularly high school young adults, did not take place,” he added. “And that is still occurring.”
  • “It’s mostly because as an adult you suddenly become aware of all the world news and you pay attention more to what you can control, and you realize that there is so little you can control,” Ms. Song, who was not part of the study, said in an interview. “Even if you’re going to protests or paying your rent and bills all on time, it’s so difficult, especially now, to break free from how you’re living your life when you realize how little impact your actions actually have on a broader level.”
  • There is a silver lining, though
  • In 2022, a Harvard University study showed that well-being among young adults in the United States had declined in the previous 20 years. Young people — those between the ages of 18 and 25 — reported the lowest levels of happiness compared with other age groups, as well as the poorest mental and physical health, sense of purpose, character, virtue, close social relationships and financial stability
  • Similar findings have emerged in Britain and Canada.
  • “One factor, which we’re all thinking about, is social media,” said Dr. Robert Waldinger, the director of the Harvard Study of Adult Development
  • “Because there’s been some research that shows that depending on how we use social media, it lowers well-being, it increases rates of depression and anxiety, particularly among young girls and women, teenage girls.”
  • In addition, Dr. Waldinger said, the negative feedback loop from news consumption has become a contributing factor.
  • “There’s also a lot of anxiety about the state of the world,” he said. “About climate change. About all of the polarization that we’re seeing.”
  • in some other countries, such as Croatia, Switzerland and Austria, the World Happiness Report shows that young people are becoming happier.
  • “Part of the problem is that we have this huge expectation of happiness in America,” said Eric Weiner, the author of “The Geography of Bliss,” and so we suffer partly from the unhappiness of not being happy and the expectation that we should be happy. And not every country in the world has that.”
  • “There’s an assumption that if you’re American, you’re wealthy and you’re high tech and you’re successful; you should be happy,” he said. “There’s a lot of data that shows that the greater your expectations, the less you’re happy.”
  • The expectations for young people like Ms. Song, the novelist, said have shifted.
  • “We have less to look forward to,” she said. “Because in the future, there’s going to be climate change that will affect the way we live. I think there’s less of a clear-cut trajectory for our life paths, because for so long, it was so easy just to know that you could go get married and have your 2.5 kids, and then pay for your house. But now that path is a lot more closed.”
  • “The literature is clear in practice — the effect that this had on socialization, pro-social behavior, if you will, and the ability for people to feel connected and have a community,”
  • “A, this angst is very local and, B, it’s very recent, which means, C, it’s not fundamental and going to last forever,” he said. “If it has been created that quickly, it could be removed that quickly.”
Javier E

Opinion | America's Irrational Macreconomic Freak Out - The New York Times - 0 views

www.nytimes.com/...ntiment-inflation-anxiety.html

bias perception economic cognitive bias psychology brain science

shared by Javier E on 02 Apr 24 - No Cached
  • The same inflationary forces that pushed these prices higher have also pushed wages to be 22 percent higher than on the eve of the pandemic. Official statistics show that the stuff that a typical American buys now costs 20 percent more over the same period. Some prices rose a little more, some a little less, but they all roughly rose in parallel.
  • It follows that the typical worker can now afford two percent more stuff. That doesn’t sound like a lot, but it’s a faster rate of improvement than the average rate of real wage growth over the past few decades.
  • many folks feel that they’re falling behind, even when a careful analysis of the numbers suggests they’re not.
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  • That’s because real people — and yes, even professional economists — tend to process the parallel rise of prices and wages in quite different ways.
  • In brief, researchers have found that we tend to internalize the gains due to inflation and externalize the losses. These different processes yield different emotional responses.
  • Let’s start with higher prices. Sticker shock hurts. Even as someone who closely studies the inflation statistics, I’m still often surprised by higher prices. They feel unfair. They undermine my spending power, and my sense of control and order.
  • younger folks — anyone under 60 — had never experienced sustained inflation rates greater than 5 percent in their adult lives. And I think this explains why they’re so angry about today’s inflation.
  • Even though wages tend to rise hand-in-hand with prices, we tell ourselves a different story, in which the wage rises we get have nothing to do with price rises that cause them.
  • But then my economist brain took over, and slowly it sunk in that my raise wasn’t a reward for hard work, but rather a cost-of-living adjustment
  • Internalizing the gain and externalizing the cost of inflation protects you from this deflating realization. But it also distorts your sense of reality.
  • The reason so many Americans feel that inflation is stealing their purchasing power is that they give themselves unearned credit for the offsetting wage rises that actually restore it.
  • in reality, higher prices are only the first act of the inflationary play. It’s a play that economists have seen before. In episode after episode, surges in prices have led to — or been preceded by — a proportional surge in wages.
  • While older Americans understood that the pain of inflation is transitory, younger folks aren’t so sure. Inflation is a lot scarier when you fear that today’s price rises will permanently undermine your ability to make ends meet.
  • Perhaps this explains why the recent moderate burst of inflation has created seemingly more anxiety than previous inflationary episodes.
  • More generally, being an economist makes me an optimist. Social media is awash with (false) claims that we’re in a “silent depression,” and those who want to make American great again are certain it was once so much better.
  • in reality, our economy this year is larger, more productive and will yield higher average incomes than in any prior year on record in American history
  • And because the United States is the world’s richest major economy, we can now say that we are almost certainly part of the richest large society in its richest year in the history of humanity.
  • The income of the average American will double approximately every 39 years. And so when my kids are my age, average income will be roughly double what it is today. Far from being fearful for my kids, I’m envious of the extraordinary riches their generation will enjoy.
  • Psychologists describe anxiety disorders as occurring when the panic you feel is out of proportion to the danger you face. By this definition, we’re in the midst of a macroeconomic anxiety attack.
Javier E

How 'Surf City USA' became California's MAGA stronghold - The Washington Post - 0 views

www.washingtonpost.com/...h-maga-conservative-california

local politics US crisis culture partisan polarization

shared by Javier E on 02 Mar 24 - No Cached
  • Huntington Beach, one of Orange County’s largest cities, has long been associated with conservative beliefs, but its evolution in recent years shows how the bitter polarization of national politics has crept into even the most mundane municipal matters.
  • “It’s the tipping on its head of the old notion that all politics is local. Now, all politics are national, and I think the overall effect of that is really destructive,” said Jim Newton, a public policy lecturer at UCLA and editor of Blueprint magazine. “It takes a sharply divided country at the national level and drags that down into local disputes.”
  • Spurred by those early oil booms, the city embraced development and corporate interests, said Chris Jepsen, the president of the Orange County Historical Society, earning it “a reputation for being pro-business and ardently pro-property rights.”
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  • “Politics, Democratic or Republican, were not particularly important,” said Tom Harman, a former Republican state senator who got his start on the city council in the 1990s. “People didn’t run on party preference. They ran on what they could do in the community and how they could make the city a better place to live.”
  • It had long been a destination for surfing, but officials in the ’90s began leaning into that reputation to court the tourism industry. Huntington Beach became “Surf City USA,” a moniker pulled from a chart-topping song.
  • Two high-profile acts of white-supremacist violence — the shooting of a Black man in 1994, and the stabbing of a Native American man two years later — prompted the city to crack down on the groups who had flocked from across Southern California.
  • City police stepped up patrols, the council passed a human dignity policy condemning hate crimes, and officials started a human relations commission to combat bigotry. Ken Inouye, the founding chair of that task force and a 51-year resident of Huntington Beach, said residents from across the city “came together because we knew we were better than that.”
  • Both efforts were reversed when the current Republican majority took over the council.
  • In recent decades, sweeping demographic change has pushed Orange County to the left. But those shifts have been more subtle in Huntington Beach, and the city has retained its rightward lean. Unlike the county’s other largest cities, most residents are White and Republicans still account for the plurality of Huntington Beach’s registered voters.
  • During Donald Trump’s presidency, residents bridled at California’s pandemic restrictions, much as Trump did. Fierce protests became common, with crowds clogging the pier and Pacific Coast Highway to shout down coronavirus precautions or cheer Trump. Some of the rallies were organized by white-supremacist groups and turned violent.
  • Another inflection point came in 2021, when former mixed martial arts fighter and hard-right council member Tito Ortiz resigned from his post and the remaining members appointed a Democrat, Rhonda Bolton, in his stead. The move infuriated city Republicans, who wanted Ortiz replaced with an ideological equal.
  • “The tone of political rhetoric has gotten coarser and sillier as time has worn on,” she said. “And Huntington Beach is a reflection of what’s happening nationally.”
  • Carol Daus, who has lived in the city nearly three decades, said the council’s focus on contentious cultural debates has divided the community, pitting neighbors against neighbors. One example of the acrimony: Protect HB has hung posters across the city urging a “No” vote on the March ballot measures, but some 40 of those signs were recently vandalized with large green “Yes” stickers.
  • “This city during the past several years, following the Trump administration and covid lockdown, was like a volcano ready to explode,” Daus said. “And now it has.”
  • “I feel duped,” said Sue Welfringer, a longtime Huntington Beach resident and registered Republican. She voted for the four-person conservative slate because she liked their stances on homelessness and limiting development, but mostly she appreciated that they got along with each other.
  • “I almost don’t even want to vote at all because I don’t want to make another terrible mistake I regret,” said Welfringer, who opposes the council’s stances on issues like LGBTQ rights and voter ID. “I feel like they had a hidden agenda. And now I’m also worried what else is on their hidden agenda. I’m afraid to know what big issue is next.”
  • “Ideally, it would be wonderful if we could just focus on the roads and infrastructure,” he said. “But I think we’re in a time now where there really isn’t any such thing as a nonpartisan local focus anymore.”
  • But this dynamic has turned city council meetings into routine spectacles, where public comment drags on for hours and speakers hurl invectives at the seven members sitting on the dais.
  • Butch Twining, a candidate for city council, is one of three conservatives looking to build on the Republican majority, campaigning as a slate to replace Bolton and the council’s other two liberal members in November. A victory would give conservatives a 7-0 vise grip on the council.
Javier E

Opinion | Bidencare Is a Really Big Deal - The New York Times - 0 views

www.nytimes.com/...trump-biden-obamacare.html

obamacare biden politics policy

shared by Javier E on 26 Jan 24 - No Cached
  • President Biden has made Obamacare an even bigger deal, in a way that is improving life for millions of Americans.
  • The Biden administration just announced that 21 million people have enrolled for coverage through the A.C.A.’s health insurance marketplaces, up from around 12 million on the eve of the pandemic. America still doesn’t have the universal coverage that is standard in other wealthy nations, but some states, including Massachusetts and New York, have gotten close.
  • And this gain, unlike some of the other good things happening, is all on Biden, who both restored aid to people seeking health coverage and enhanced a key aspect of the system.
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  • Biden, as part of the 2022 Inflation Reduction Act, largely resolved these problems, reducing maximum premium payments (net of subsidies) and eliminating the cliff at 400 percent. The result is to make health insurance coverage substantially more affordable, especially for middle-income Americans who previously earned too much to be eligible for subsidies. Hence the surge in marketplace enrollments.
Javier E

Jake Sullivan's Revolution - POLITICO - 0 views

www.politico.com/...n-globalization-biden-00141697

politics crisis history US economics policy biden strategy

shared by Javier E on 21 Feb 24 - No Cached
  • Sullivan first had to dismantle establishment orthodoxies within himself — the same orthodoxies he now sought to undo at Brookings: That globalization and free trade were an unalloyed good, growing economies and improving people’s lives in the process. What was good for the stock market, in effect, was great for everybody. Given enough time, swelling wallets would produce a steady middle class, one that demands its political and human rights from its government. Even the most repressive regimes, the thinking went, would eventually crumble under the weight of inflowing capital. Consistent pressure via greenbacks did the most good for the most people.
  • “Those were the heady days when the mainstream foreign policy consensus was that globalization was a force for good,” Sullivan recalled in a 2017 interview. There was, of course, reason to think this. Capitalism helped keep the Soviet Union at bay, China still wasn’t a major power and building the economies of enemies turned them into friends. Globalization, per its champions, had the benefit of making many people rich while making the world safer in general and U.S. foreign policy less costly.
  • “After the Second World War, the United States led a fragmented world to build a new international economic order. It lifted hundreds of millions of people out of poverty. It sustained thrilling technological revolutions. And it helped the United States and many other nations around the world achieve new levels of prosperity. But the last few decades revealed cracks in those foundations,”
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  • In other words, the Marshall Plan and the tech boom during the 1990s were products of their time and place. They wouldn’t necessarily have the desired effects in a modern context.
  • “A shifting global economy left many working Americans and their communities behind. A financial crisis shook the middle class. A pandemic exposed the fragility of our supply chains. A changing climate threatened lives and livelihoods. Russia’s invasion of Ukraine underscored the risks of overdependence.”
  • What was the solution? Instead of rampant globalization, Sullivan’s pitch was that a reenergized American economy made the country stronger. It was time to remake the Rust Belt into a Cobalt Corridor, to establish industries that led not only to blue-collar work but to azure-collared careers. If that was done right, a strengthened America could act more capably around the globe.
  • “By the time President Biden came into office, we had to contend with the reality that a large non-market economy had been integrated into the international economic order in a way that posed considerable challenges,” he said, citing China’s large-scale subsidization of multiple sectors that crushed America’s competitiveness across industries. Making matters worse, Sullivan continued, “economic integration didn’t stop China from expanding its military ambitions.” It also didn’t stop countries like Russia from invading their neighbors.
  • Implicitly, Sullivan said the main assumptions undergirding America’s foreign and economic policy had been wrong for decades. China, and the Washington belief that liberalized markets would eventually lead to democracy within the halls of power in Beijing, was the most glaring example.
  • “This moment demands that we forge a new consensus. That’s why the United States, under President Biden, is pursuing a modern industrial and innovation strategy — both at home and with partners around the world,
  • Standing in front of the esteemed audience, Sullivan was telling them he didn’t want to be caught flat-footed as the global economy reshaped around them. The U.S. government would be proactive, prepared and proud in search of an industrial strategy to undergird American power. Without saying the words, he was offering a plan to make America great again.
  • A self-proclaimed “A-Team” came together to move beyond the Trump era, but in some ways they embraced elements of it. Not the nativist demagoguery, but the need to return to fundamentals: a healthy middle class powered by a humming industrial base, a humility about what the U.S. military alone can accomplish, a solid cadre of allies, attention to the most existential threats and a refresh of the tenets that sustain American democracy.
  • “This strategy will take resolve — it will take a dedicated commitment to overcoming the barriers that have kept this country and our partners from building rapidly, efficiently, and fairly as we were able to do in the past,”
Javier E

Some Silicon Valley VCs Are Becoming More Conservative - The New York Times - 0 views

www.nytimes.com/...valley-conservative-trump.html

silicon valley politics support GOP Trump VC

shared by Javier E on 24 May 24 - No Cached
  • The circle of Republican donors in the nation’s tech capital has long been limited to a few tech executives such as Scott McNealy, a founder of Sun Microsystems; Meg Whitman, a former chief executive of eBay; Carly Fiorina, a former chief executive of Hewlett-Packard; Larry Ellison, the executive chairman of Oracle; and Doug Leone, a former managing partner of Sequoia Capital.
  • But mostly, the tech industry cultivated close ties with Democrats. Al Gore, the former Democratic vice president, joined the venture capital firm Kleiner Perkins in 2007. Over the next decade, tech companies including Airbnb, Google, Uber and Apple eagerly hired former members of the Obama administration.
  • During that time, Democrats moved further to the left and demonized successful people who made a lot of money, further alienating some tech leaders, said Bradley Tusk, a venture capital investor and political strategist who supports Mr. Biden.
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  • after Mr. Trump won the election that year, the world seemed to blame tech companies for his victory. The resulting “techlash” against Facebook and others caused some industry leaders to reassess their political views, a trend that continued through the social and political turmoil of the pandemic.
  • The start-up industry has also been in a downturn since 2022, with higher interest rates sending capital fleeing from risky bets and a dismal market for initial public offerings crimping opportunities for investors to cash in on their valuable investments.
  • Some investors said they were frustrated that his pick for chair of the Federal Trade Commission, Lina Khan, has aggressively moved to block acquisitions, one of the main ways venture capitalists make money. They said they were also unhappy that Mr. Biden’s pick for head of the Securities and Exchange Commission, Gary Gensler, had been hostile to cryptocurrency companies.
  • Last month, Mr. Sacks, Mr. Thiel, Elon Musk and other prominent investors attended an “anti-Biden” dinner in Hollywood, where attendees discussed fund-raising and ways to oppose Democrats,
  • Some also said they disliked Mr. Biden’s proposal in March to raise taxes, including a 25 percent “billionaire tax” on certain holdings that could include start-up stock, as well as a higher tax rate on profits from successful investments.
  • “If you keep telling someone over and over that they’re evil, they’re eventually not going to like that,” he said. “I see that in venture capital.”
  • Some tech investors are also fuming over how Mr. Biden has handled foreign affairs and other issues.
  • Mr. Andreessen, a founder of Andreessen Horowitz, a prominent Silicon Valley venture firm, said in a recent podcast that “there are real issues with the Biden administration.” Under Mr. Trump, he said, the S.E.C. and F.T.C. would be headed by “very different kinds of people.” But a Trump presidency would not necessarily be a “clean win” either, he added.
  • Mr. Sacks said at the tech conference last week that he thought such taxes could kill the start-up industry’s system of offering stock options to founders and employees. “It’s a good reason for Silicon Valley to think really hard about who it wants to vote for,” he said.
  • “Tech, venture capital and Silicon Valley are looking at the current state of affairs and saying, ‘I’m not happy with either of those options,’” he said. “‘I can no longer count on Democrats to support tech issues, and I can no longer count on Republicans to support business issues.’”
  • Ben Horowitz, a founder of Andreessen Horowitz, wrote in a blog post last year that the firm would back any politician who supported “an optimistic technology-enabled future” and oppose any who did not. Andreessen Horowitz has donated $22 million to Fairshake, a political action group focused on supporting crypto-friendly lawmakers.
  • Venture investors are also networking with lawmakers in Washington at events like the Hill & Valley conference in March, organized by Jacob Helberg, an adviser to Palantir, a tech company co-founded by Mr. Thiel. At that event, tech executives and investors lobbied lawmakers against A.I. regulations and asked for more government spending to support the technology’s development in the United States.
  • This month, Mr. Helberg, who is married to Mr. Rabois, donated $1 million to the Trump campaign
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