A GOOD ECONOMY, SLOWING INFLATION, UNHAPPY AMERICANS

“Nobody can be a great economist who is only an economist - and ... the economist who is only an economist is likely to become a nuisance if not a positive danger.” So warned the great Friedrich von Hayek in 1956. Anyone attempting to understand what is going on in America must start with Hayek’s warning in mind. The economy provides only a starting point when analyzing an America in which some eight-of-ten Americans say they are dissatisfied with the way things are going.