Anxiety Amid The Prosperity is an opinion piece by Robert Samuelson. He is asking why there is so much anxiety amid prosperity. His last two paragraphs pretty much sum up his thoughts. Interesting analysis.
So we return to the original puzzle: Why does an economy of greater stability have industries of lesser stability? The answer is competition. An intensely competitive economy enhances overall stability by holding down inflation (which is itself destabilizing) and spreading economic disruptions throughout the business cycle (rather than letting them accumulate for periodic, massive downturns).
But the solution to one problem creates other, though smaller, problems. Except during unsustainable booms, say, the late 1990s, even good times are punctuated with insecurities, disappointments, job losses, broken promises and shattered expectations. What may be good for us as a society may hurt many of us as individuals. The unending challenge is to find the necessary social protections that help the most vulnerable without frustrating desirable, if sometimes painful, change.
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