Recently, I accidentally overdrew my checking account. That hadn’t happened to me in years—the last time was in 2008, when I was running a small business with no safety net in the middle of a financial crisis. Back then, an overdrawn account meant eating canned soup and borrowing cash from friends only slightly better off than me. This time, I didn’t need to worry—I was able to move money from a different account. And yet all the old feelings—heart palpitations, the seizure of reason in my brain—came right back again.
I have one of those wearable devices that monitors my heart rate, sleep quality, activity level, and calories burned. Mine is called an Oura ring, and at the end of the day, it told me what I already knew: I had been “unusually stressed.” When this happens, the device asks you to log the source of your stress. I scrolled through the wide array of options—diarrhea, difficulty concentrating, erectile dysfunction, emergency contraceptives. I could not find “financial issues,” or anything remotely related to money, listed.
According to a poll from the American Psychiatric Association, financial issues are the No. 1 cause of anxiety for Americans: 58 percent say they are very or somewhat anxious about money. How, I wondered, was it possible that this had not occurred to a single engineer at Oura?
For all of the racial, gender, and sexual reckonings that America has undergone over the past decade, we have yet to confront the persistent blindness and stigma around class. When people struggle to understand the backlash against elite universities, or the Democrats’ loss of working-class voters, or the fact that more and more Americans are turning away from mainstream media, this is why.
There is. It's just not going to happen. UBI in an unregulated economy will simply mean rents go up commensurately, and the money still filters to the top.
I know you're probably right. But I want to believe with every fiber that you're wrong
Past performance is famously not indicative of future results, but throughout recorded history, the rich and powerful have not liked the idea of ceding either money or power.