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Sydney J. Harris wrote in 1975: WHAT IS SO frustrating about this kind of thing is the difficulty in pinning down the culprits, if any … Either somebody is lying, or the whole economic process doesn’t make sense. If labor is getting “too much,” why are most working families struggling to make ends meet? If grocers are “profiteering,” why do they get glummer as prices go higher? Where does the buck stop? Nobody knows. And so each segment blames another for the vicious spiral, and each justifies its own increases by pointing to its own rising cost of doing business.
Narrative Economics: How Stories Go Viral and Drive Major Economic Events
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