It’s a conundrum that has vexed politicians and pundits alike. Despite an economic “expansion” that ranks as one of the longest in the nation’s history, Americans remain unsettled about their economic future. Neither Republican challenger Bob Dole, who stresses the need for more growth, nor Bill Clinton, who is trying to take credit for the current expansion, has been able to assuage the public’s deep, brooding concerns.
The usual explanation for the nation’s economic unease includes the layoffs and two-worker families that lurk beneath the rosy growth figures and the way the fruits of prosperity have been falling mainly to those at the top. But there’s another possible explanation, one that has received much less attention: namely, that much of the rapid growth in recent years actually consists of things Americans want less, not more of.