Business

Many Americans Feel Economy is Rigged Against Them, Study Shows

Many Americans believe that the economy is rigged, designed to benefit the rich and powerful while leaving others with too little or nothing at all. This sentiment has been exacerbated by recent inflation and higher housing costs, which have made it difficult for people to make ends meet.

Despite national indicators suggesting a strong economy, the reality for many Americans is quite different. According to a project conducted by the American Academy of Arts and Sciences, over 30 small-group conversations were held with people from various parts of the country, revealing a prevailing sense of economic struggle and lack of support.

For most Americans, the economy is seen as an obstacle, with external forces seemingly controlling their lives. The perception of greed in driving the economy has been heightened by the tangible effects of inflation and housing costs, as people experience these challenges in their daily lives, such as increased expenses at grocery stores and higher demands from landlords.

Despite reports of declining income inequality, many individuals still feel that the underdog cannot get ahead, attributing this to a system driven by greed and profit. The disconnect between the macroeconomic story and the micro-American experience is evident, as the tight job market has not translated into meaningful progress for everyone, particularly for those struggling to afford basic necessities.

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