How is the ordinary American doing?

Weekend essay  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

AJ Hess | September 05, 2026     How is America, the world’s largest economy, doing? Depending on your political persuasion, your answer might change.  Some might point to the booming stock market fueled by AI investment. Others might mention an affordability crisis and rising inequality that promises to monopolize Midterm debates. These polarized perspectives are part of a longstanding standoff about how we measure economic vitality.  Often, growth and inequality are framed, in the words of Antara Haldar, as “separate stories, fetishized by right and left, corporate America and labor unions, Wall Street and Main Street respectively.”  But the truth, she argues in TIME’s Weekend Essay, is more complex. Perhaps a better question: how is the ordinary American doing? IN TODAY’S BRIEF Everyman economics What to know about mail-in ballots Linked         WEEKEND ESSAY Why growth requires measuring more than GDP  Photo-Illustration by TIME (Source Image: Michael M. Santiago—Getty Images) In its 250th year, America finds itself confronting an age-old question with new urgency: what, exactly, counts as progress? 1776 was a hinge year for the modern world. Adam Smith published The Wealth of Nations, America adopted the Declaration of Independence, and Boulton and Watt commercialized the steam engine—three developments that unleashed an age of capitalism, of unprecedented growth and unprecedented inequality.  And while growth and inequality are often treated as separate stories, fetishized by right and left, corporate America and labor unions, Wall Street and Main Street respectively, this November, the Midterms will put them on a collision course. But they have always gone hand-in-hand, their fates inextricably intertwined. America’s triumphs are real. The United States is still the world’s largest economy. It remains a global engine of innovation. Its stock market is booming thanks to artificial intelligence, while its capital markets remain the deepest and most powerful in the world. And despite tariffs, a labor market slowed by restrictive immigration and repeated energy price shocks, its growth—as attested to by its 32.3 trillion-dollar GDP figure (larger than China, India, and Germany combined)—appears to defy the odds, and remains resilient. Yet the dynamism is only one half of the story. Affordability has become the defining issue of the moment. And many signs indicate that the Midterms this year will be decided on that basis. Pew Research found that the economy is, by a wide margin, what voters place front and center, with only 24% of Americans describing the economy as “good” or “excellent.” While Gallup reports that voters name cost of living as their most important problem, or top concern, for the election. GDP, the single statistic that now determines a country’s economic might, traces its roots to the scholarship of American economist Simon Kuznets during the Great Depression, and his landmark 1934 work National Income. But, as the Cambridge economist Diane Coyle points out, Kuznets was, himself, aware of the many flaws and pitfalls of the metric he had developed and warned against confusing economic output with human welfare. What even fewer people know is that the “godfather” of GDP was also a pioneer in the study of inequality. The Kuznets curve—his famous prediction that inequality would eventually decline as economies grew richer—is not one history has obliged, but it points to the Janus-headed quality of modern capitalism. Antara Haldar is an associate professor at the University of Cambridge the author of Everyman: The Untold Story of Economics. Read the full essay here…         SPONSORED Never worry about roaming again Stay connected on every trip with Saily eSIM plans. From beach vacations to business travel, access data in 200+ destinations. VIP perks available. Activate instantly upon arrival. Download SAILY in your app store and use code newsletter15 at checkout to get an exclusive 15% off your first purchase. Get 15% off now Chat support available 24/7. Get a full refund if your device isn’t eSIM compatible.         A MINUTE OF YOUR TIME Trump is targeting mail-in ballots again The first mail-in ballots for the midterms are going out this week, but the legal fight over how some of them will be counted could stretch all the way to Election Day, or even beyond. That’s leaving campaigns and voters with some big questions: Can you trust that your mail-in ballot will be counted, or is it safer to vote in person?         SPONSORED Stop losing deals you should be winning. Bad leads. Slow deals. Objections you didn't see coming. That's not a sales problem. You're selling to the wrong people. Most founders never stop to define exactly who their product is actually for. So they pitch everyone, convert few, and wonder why the funnel's broken. HubSpot for Startups built a free tool that fixes the root cause in 2 minutes. Paste your URL, answer a few quick questions, and get a clear profile of your best-fit customer. Build Your Free ICP.       Linked In this addictive word-association game, find the steps that will unite two seemingly unrelated words in just four moves. PLAY NOW     SPONSORED Own AI That Works In Dirt The future of farming uses autonomous robots instead of herbicides. Greenfield Robotics has spent six years developing its technology, with 82 robots deployed across 16 states.  Reserve now for 10% bonus shares when you invest. Invest in Greenfield Robotics Greenfield Robotics is Testing The Waters under tier 2 of Regulation A. No money or other consideration is being solicited, and if sent in response will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement filed by the company with the SEC has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification. An indication of interest involves no obligation or commitment of any kind. “Reserving” shares is simply an indication of interest. There is no binding commitment for investors that reserve shares in this manner to ultimately invest and purchase the shares reserved of the company, or to purchase any shares of the company whatsoever.     EMAIL US: thebrief@time.com More Newsletters from Click to sign up. D.C. BRIEF +FUTURE PROOF +HEALTH MATTERS +INSIDE TIME +IN THE LOOP +WORTH YOUR TIME + Connect with TIME   PRIVACY POLICY     © 2026 TIME USA, LLC. All rights reserved. TIME Customer Service, P.O. Box 37508 Boone, IA 50037-0508, United States Unsubscribe