In the Economy We Trust

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After Vietnam and Watergate, American trust in government plummeted. But how about since then? Has trust continued to decline? John Sides says it’s actually gone up and down since the 60s, influenced largely by one thing:

What drives the trend in political trust? By and large, it is the economy. People trust government when times are good. They don’t trust it when times are bad. For the presidential election years from 1964-2008, I merged the trust measure with the change in per capita disposable income, courtesy of Douglas Hibbs….The relationship is striking. The economy explains about 75% of the variance in trust. If you delete 1964, which looks like a potential outlier, the economy still explains 73% of the variance.

In a way, this isn’t surprising. It certainly gibes with the well-known fact that presidential elections are largely driven by incumbency and the economy and not much else.

But I have to confess that this one of those results I prefer not to focus on too much. It’s sort of like talking about how important luck is in life results. It might be true, but it also induces a sort of fatalism that can be damaging in the long run. It’s good for society if people think they have more control over their destiny than they do, and it’s good for politicians to think there are things they can do to make people better off and increase their own chances of reelection. If incumbency and the economy are pretty much all there is to it, why bother spending time on actual legislation? It’s just a bunch of hard work that probably won’t pay off anyway.

And it probably won’t. But let’s keep quiet about that.

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We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

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