Price panic: the truth about affordability

价格恐慌:关于价格亲民的真相

Editor's Picks from The Economist

2026-01-05

9 分钟
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A handpicked article read aloud from the latest issue of The Economist. Voters are furious about prices, and politicians are racing to fix an affordability crisis. The problem risks being misdiagnosed.
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  • The Economist.

  • Hi, John Prado here.

  • I host Checks and Balance, our podcast on US politics.

  • Welcome to Editors Picks.

  • Here's an article from the latest edition of The Economist, handpicked by our team and read aloud.

  • I hope you enjoy it.

  • parasocial and rage-bait were contenders for word of the year in 2025.

  • In 2026, an early favourite for that title,

  • at least among pollsters and election strategists,

  • is affordability, often paired with the word crisis.

  • Having at last found a slogan that seems to work against the spell of Trumpism,

  • Democrats will talk of little else between now and the midterms in November.

  • In Europe, which is better at reposting American memes than coming up with fresh ones,

  • there is talk of a cost of living crisis.

  • A transatlantic consensus is forming that prices are out of whack.

  • But are they?

  • Affordability is a fuzzy term that can mean whatever feels true.

  • Telling people to stop complaining and be happy with their lot,

  • The Marie Antoinette strategy is not working for a White House where the tone and decor increasingly resemble Versailles.

  • Maddeningly, voters want contradictory things.