Mark CopelovitchThe New York Times simply cannot tolerate good economic news. Everything about the 3.4% unemployment and continued strong job market must be framed negatively or reported as concerning. Because The Narrative™️ cannot fail. It can only be failed.
Yes, of course, everything is political economy, there's still more work to do on inflation, and there are tradeoffs in everything. But after two years of a drumbeat hyperventilating narrative about stagflation, overheating, recession, gas prices, how Joe Biden screwed up fiscal policy, & all the Suffering From Inflation™️ (https://mastodon.social/@mcopelov/109755930239086331), maybe the paper of record could simply stop, take a breath, & report the incredibly positive economic news without centering the negatives? 🤔 🤷♂️
WndlB@mcopelov This, but see also the whole thread: https://twitter.com/justinwolfers/status/1621504217566298112?s=46&t=VVjiYKkQq3B5F39U2FCNlQ
Michael Roufa@mcopelov what's your take on the tech layoffs? (if you have one)
@roufamatic I don't, other than I don't think they're indicative of broader macroeconomic or employment trends.
@mcopelov I guess I'm still stuck with the "monkey see, monkey do" theory of layoffs then 🙄 https://news.stanford.edu/2022/12/05/explains-recent-tech-layoffs-worried/
What explains recent tech layoffs, and why should we be worried? | Stanford News
As layoffs in the tech sector mount, Stanford Graduate School of Business Professor Jeffrey Pfeffer is worried. Research – by him, and others – has shown that the stress layoffs create takes a devastating toll on behavioral and physical health and increases mortality and morbidity substantially. Layoffs literally kill people, he said.