America is richer than ever. Unemployment is low. Wages are high. According to traditional metrics, the economy looks strong. So why are Americans feeling so bad?

Today, Derek talks with bestselling author Morgan Housel and journalist David Wallace-Wells about what Derek calls the “Tragic Twenties”: the strange and sudden collapse in American happiness that began during COVID and never really stopped.

What's behind the country’s emotional downturn? Inflation and the lingering psychological effects of the pandemic are certainly part of the story. But so are collapsing trust in institutions, rising social isolation, the negativity feedback loop of social media, and the feeling that we’re living through one crisis after another. Derek, Morgan, and David unpack why the wealthiest society in history still feels deeply adrift and what this happiness recession says about the future of American life.

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If you have questions, observations, or ideas for future episodes, email us at [email protected].

Host: Derek Thompson
Guests: Morgan Housel and Derek Wallace-Wells
Producer: Devon Baroldi
Additional Production Support: Ben Glicksman

Links: https://www.derekthompson.org/p/if-americas-so-rich-howd-it-get-so

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