Mortality rates fell sharply for college-educated Americans in recent decades but not for other Americans. Mortality trends also differ sharply between rural and urban areas of the United States and across US counties. Steve asks Jonathan Skinner about these puzzling and troubling trends, and how to explain them. According to Jonathan’s recent research, “Deaths of despair,” “the China shock," obesity, and income inequality don’t explain the trends. Instead, the explanation turns on differences in smoking trends and the consequences for mortality.
Recorded on March 19, 2026.
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An interesting brouhaha has broken out in France, lately famous for reinvigorating the idea of wealth taxes: The French government should default on (“annul” “cancel” — the left is great at euphemisms) its debt held by the European Central Banks. Voilá. Disparu. Without any financial or economic cost!
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The U.S. unemployment rate has trended down for decades. Estimates after removing business cycle fluctuations show that the trend rate fell from 7.8% in 1976 to 4.8% in 2024.
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The more important budget issue is that almost half of Medicare’s spending is subsidized by taxpayers.
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