11/03/2025

Why Statistics Aren’t Reflecting the American Economy and Everyday Life

The headline statistics we currently employ are profoundly misleading, some say

What’s the big idea?

Americans keep hearing that the economy is strong. Unemployment is low. Wages are rising. Growth is steady. But for millions of families, those headlines feel like a cruel joke. The cost of rent, groceries and healthcare keep climbing while steady, well-paid work remains out of reach. The disconnect isn't just perception—it's baked into the way we measure economic success.

We are at an economic tipping point

Throughout history, when governments fail to fully appreciate the realities faced by their people, it leads to crisis. The United States may be on the brink of such economic and societal unrest. The unrest that led to the French Revolution and the economic imbalances preceding the Great Depression are both cases in point.

In the late eighteenth century, the oppressive economic situation facing the French people went unacknowledged by the royal family for decades. The French ruling class considered the truth about the nation's fiscal crisis to be nefarious—a threat to their power. Marie Antoinette, when told the peasants had no bread, replied, "Let them eat cake!" Whether or not the remark is literal or legend, it captures the ruling class' indifference to the struggles of the everyday French. Soon after, the revolution erupted, bringing turmoil and suffering to French citizens of every rank and station.

Please select this link to read the complete article from Fast Company.