According to scientists, human beings are genetically programmed to home in on the worst possible news in the present, but to primarily recall the best aspects of our past, barring of course massive trauma or PTSD-causing events.
The reasons for this are obvious, if one thinks about it. In most of human history, failing to pick up on even the smallest hints of danger could be injurious, if not fatal. Likewise, remembering everything negative in the past would likely drive one to self-destruction over time.
Unfortunately, at present, those primordial traits have some distinctly negative implications, particularly when dealing with the media and elections. Right now, a huge number of Americans are recalling, quite favorably, the Trump years, and comparing them to the present, which they regard less favorably.
But the figures show that since 2019 until now, while prices are up 19%, wages are up 21%. If one looks at the yearly figures, the greatest increase in prices started in the years when Trump was President, yet Biden is blamed for the inflation?
Currently, according to Gallup polls, 85% of Americans feel that they’re doing well financially, but only 17% of Americans believe the economy as a whole is doing well. Rationally, that makes no sense.
So why do Americans believe the economy is doing so poorly? Might it be because the media algorithms are directing the media to emphasize the negative to get better ratings, by appealing to our genetic predilections?
According to the U.S. Bureau of Labor Statistics, the average hourly wage of employees was $26.00 when Trump took office in January 2017, and $29.90 when he left office. Currently, that figure is $35.00. While that increase hasn’t yet covered the price spike of 2022-23, inflation is moderating, and wages are continuing to increase.
What’s also forgotten is that, from April to September 2023, corporate profits drove 53% of inflation. Historically, for the 40 years prior to the pandemic, profits drove just 11% of inflation. While prices for consumers have risen by 3.4% over the past year, material/input costs for producers have risen by just 1%. Corporate profits as a share of national income have skyrocketed by almost 30% since the start of the pandemic.
Yet, somehow, these figures get buried, and instead of reporting a more accurate and balanced view, the media emphasizes the negative to boost ratings, and the Republicans emphasize the negatives to gain votes, while ignoring the sizable impact of corporate greed and capitalizing on all too human nostalgia.