Why American Happiness Just Fell Off a Cliff
From Plain English with Derek Thompson by The Ringer
May 8, 2026 · 1h 1m
About this episode
Derek Thompson discusses the decline in American happiness with guests Morgan Housel and David Wallace-Wells, exploring the factors contributing to this emotional downturn.
America is richer than ever. Unemployment is low. Wages are high. According to traditional metrics, the economy looks strong. So why are Americans feeling so bad? Today, Derek talks with bestselling author Morgan Housel and journalist David Wallace-Wells about what Derek calls the “Tragic Twenties”: the strange and sudden collapse in American happiness that began during COVID and never really stopped. What's behind the country’s emotional downturn? Inflation and the lingering psychological effects of the pandemic are certainly part of the story. But so are collapsing trust in institutions, rising social isolation, the negativity feedback loop of social media, and the feeling that we’re living through one crisis after another. Derek, Morgan, and David unpack why the wealthiest society in history still feels deeply adrift and what this happiness recession says about the future of American life. Subscribe to our YouTube channel here: https://www.youtube.com/@PlainEnglishwithDerekThompson If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. Host: Derek ThompsonGuests: Morgan Housel and Derek Wallace-WellsProducer: Devon…
People in this episode
Host: Derek Thompson
Guests: Morgan Housel, David Wallace-Wells
Topics covered
- American happiness
- COVID-19
- social isolation
- economic metrics
- trust in institutions
- social media
- emotional downturn
Keywords
- American happiness
- economic strength
- social isolation
- COVID-19 effects
- trust in institutions
- social media negativity
- happiness recession
Mentioned in this episode
Organizations: The Ringer
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