478: Nicholas Eberstadt—The New Misery
From The Way I Heard It with Mike Rowe by The Way I Heard It with Mike Rowe
April 7, 2026 · 1h 33m · Episode 478
About this episode
Mike Rowe interviews economist Nicholas Eberstadt about the implications of demographic and economic trends in America.
Numbers don't lie—but they can obscure significant information. In this episode, Mike sits down with economist, demographer, and Harvard-educated brainiac Nicholas Eberstadt to explore a different kind of arithmetic—one that measures not just how many Americans we have, but how we're actually living. In his latest book, America's Human Arithmetic, Nick digs into three uncomfortable truths: first, the steady decline in prime-age labor force participation that persists even in strong economies. Second, the growing imbalance between those producing and those receiving—an economic equation increasingly tilted by entitlements and transfer payments. And third, a demographic slowdown marked by falling fertility and an aging population, reshaping the country's long-term trajectory in ways few are prepared for. Add those together and you get a new misery. This conversation is about the kind of math that doesn't stay on paper—the kind that shapes a nation's future whether we're paying attention or not. Tip o' the hat to our excellent sponsors ZipRecruiter.com/Rowe to post a job for FREE. GoodRanchers.com Use code MIKE to get $25 off your first order and FREE meat for life. Pestie.com/Mike…
People in this episode
Host: Mike Rowe
Guest: Nicholas Eberstadt
Topics covered
- economics
- demography
- labor force participation
- entitlements
- fertility
- aging population
- national future
Keywords
- labor force
- demographics
- economy
- fertility rate
- aging population
- entitlements
- economic trends
Sponsors
ZipRecruiter, Good Ranchers, Pestie, mikeroweWORKS
Mentioned in this episode
Organizations: Harvard
Books & works: America's Human Arithmetic
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