As the economy continues to struggle, it’s surprising to learn that 23 percent of Americans still believe that the economy is in good or excellent shape. Lone Star College economist Hank Lewis explains that this optimistic outlook may be coming from those at the top of the financial ladder.
Lewis tells KTRH that those in the top tier financially tend to view the economy as rosier because of their own financial stability. However, he cautions that this perspective can be short-sighted and may not reflect the reality of the overall economic situation.
Another factor that Lewis mentions is political bias. He explains how individuals may blindly support their party and claim that the economy is doing well when their party is in power. This kind of bias can lead to perception issues like confirmation bias, where individuals only seek out information that confirms their existing beliefs.
