Are Workers Just Too Stupid to Understand Inflation?
by Les Leopold The pundits are at it again, fretting over the latest poll numbers showing that President Biden is losing in the key swing states, especially those like Michigan, Pennsylvania, and Wisconsin, with heavy concentrations of working-class voters. With inflation down, unemployment at record lows, wages up, and infrastructure projects popping up across the country, the pundits wonder why aren’t these workers thrilled with the economy? The not-so-subtle implication is that American workers are too dumb to realize that wages are rising faster than the higher prices they see all around them. Even Robert Reich, who I truly admire and hate to call out, …