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Robert Frank, Success And Luck: Good Fortune And The Myth Of Meritocracy, Princeton University Press, 2016, https://press.princeton.edu/books/hardcover/9780691167404/success-and-luck
AI Summary. 60% of U.S. adults identify as working class, including half of college graduates and upper-income earners, making the label broadly adopted across economic lines rather than confined to lower-income or blue-collar workers.
Steven Shepard, Hannah Hartig, Andy Cerda and Jocelyn Kiley Pew Research CenterCore argument: Sixty percent of U.S. adults identify as working class, a label adopted across income and education lines — including half of upper-income Americans and half of bachelor’s degree holders — signaling the term has lost its traditional socioeconomic boundaries.
Most Americans think of themselves as “working class” today: Overall, 60% of U.S. adults say the term describes them well. And the identity is widely adopted by people across all income and educational groups – including half of both Americans who have a bachelor’s degree and those who are upper-income. Those working in blue-collar occupations are particularly likely to identify as working class (77%), [as are] a majority of those working in other occupations (61%). White adults are more likely than Black adults to identify as working class. About six-in-ten White (62%) and Hispanic adults (59%) overall view themselves as working class, as do roughly half of Black (54%) and Asian adults (52%).AI Summary. American confidence in capitalism has fallen from 60% to under 50% over the last decade, while only 12% believe democracy is working well and just 35% believe the economy offers a fair path to prosperity.
Aaron Zitner Wall Street JournalCore argument: Capitalism approval fell 10 pts to 50% over the past decade, driving erosion in confidence across core American institutions.
Americans are losing confidence in two main pillars of society: capitalism and democracy. Just under half of Americans say capitalism is working very well or even somewhat well, down from 60% who said so about a decade ago, according to a new Wall Street Journal-NORC survey. Only 35% are even fairly sure that the nation offers people the ability to get good jobs and achieve the American dream. Confidence in the nation’s system of government is even lower. Only 12% say democracy is working very well or extremely well, and a mere 16% say average citizens have considerable influence on politics. Two-thirds of Republicans said they were very proud of American history, three times the share of Democrats who said so. And Republicans in the survey stood apart in their belief in American exceptionalism, the long-held idea that the U.S. is unique or superior among nations. Nearly half of Republicans said that America stands above all other countries in the world, compared with only 8% of Democrats and 13% of independents.AI Summary. American patriotism, measured by those "extremely proud" to be American, tracks closely with which party controls the presidency, with partisan gaps widening sharply over time. Republican pride swings ~14 points between administrations, while Democratic pride has collapsed from 58% to 14% across the same period.
Eli McKown-Dawson and Nate Silver Silver BulletinCore argument: Democratic extreme pride fell 75% from 58% (2004–2008) to 14%, driving a 44-pt partisan gap vs. Republicans’ 74%, the widest.
During George W. Bush’s second term, an average of 58% of Democrats were extremely proud to be American according to Gallup, as was an identical share of independents — though Republicans were higher. The rough parity between Democrats and independents lasted through Barack Obama’s second term, but the share of extremely proud Democrats fell to an average of 30% during Trump’s first term and was just 14% in the most recent Gallup poll. Although Republicans are generally more patriotic, their opinions can shift based on who occupies 1600 Pennsylvania Avenue too. The share of Republicans extremely proud to be American fell from 79% on average during Bush’s second term to 60% during Biden’s term. What happened after Trump retook office? It jumped right back up to 74%.AI Summary. Texas leads all U.S. states in business investment and population growth, creating roughly 20% of net new jobs nationally from 2020 to 2025, and is on track to surpass California as the largest U.S. economy.
Economist Staff The EconomistCore argument: Texas created ~20% of all net new U.S. jobs from 2020–2025, driving its emergence as the nation’s primary business investment.
On May 27th the shareholders of ExxonMobil approved a plan to cut its ties with New Jersey and reincorporate in Texas, where it has long had its headquarters. The oil giant is not alone. Texas is steadily establishing itself as America Inc’s new centre of gravity. No state receives more business investment or is adding more people to its population. From 2020 to 2025 it created roughly a fifth of all net new jobs in the country. It is only a matter of time before Texas overtakes California as the largest economy in America. Texas’s success should worry those in New York and California monitoring their tax take. At the same time it has spawned a raft of imitators. Legislators in North Carolina have passed a plan to get rid of its corporate-income tax by 2030. Tennessee has copied Texas’s strategy of offering firms shovel-ready mega-sites. Nevada is trying to launch its own business court.