Reasonably Optimistic

For generations, owning a home was seen as the first real step into adulthood: a place to raise a family, build wealth and claim a piece of the American Dream. But for Gen Z, soaring prices, high mortgage rates and a shortage of starter homes have pushed even modest houses out of reach.

Host Megan McArdle argues that young Americans really have received a worse housing deal than earlier generations. But the era of cheap, abundant homes to buy was shaped by forces we cannot simply recreate, and a good life does not have to begin with buying the perfect house.

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The drug crisis in the United States did not begin with fentanyl. It began with a series of choices that seemed compassionate at the time — prescribing opioids for people in pain, scaling back punishment and trying to make drug use safer. But addiction spread, fentanyl changed the stakes, and the solutions no longer fit the crises unfolding in communities.

Host Megan McArdle talks with Keith Humphreys, a Stanford professor and psychologist, about what America got wrong about drug addiction, why overdose deaths are finally falling, where harm reduction lost its way and what a better approach could look like.

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Gen Z has been told a lot of things about loneliness: that it’s caused by phones, social media, remote work, dating apps, the pandemic, the decline of third places and a culture that makes staying home easier than ever. But what if the more uncomfortable truth is that loneliness is also something people have to actively fight?

Host Megan McArdle talks with Wall Street Journal editor Emma Camp about her essay “Loneliness Is for Cowards,” why so many young people seem afraid of embarrassment and rejection, and how to start making real friends again.

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For a lot of men, friendship doesn’t disappear all at once. It fades slowly: a missed call here, a canceled plan there, a few busy years that become a decade. Before you know it, the relationship has moved to the background of life, where it can feel easier to assume the bond will survive on memory than to do the awkward work of reaching back out. Andrew McCarthy wanted to understand why that story is so common.

Host Megan McArdle is joined by the actor, director and author, whose new book, “Who Needs Friends: An Unscientific Examination of Male Friendship Across America,” follows his 10,000-mile journey to reconnect with old friends and ask men what friendship means to them.

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A trillion dollars seems like enough money to solve almost anything. We could end world hunger, wipe out medical debt, shrink the federal deficit and still have plenty left over. So when people talk about Elon Musk’s potential trillion-dollar fortune, or the wealth of billionaires more broadly, it’s natural to ask: Why don't we simply tax the rich and use the money to fix our country’s biggest problems?

Host Megan McArdle argues that while taxing billionaires may sound morally obvious, billionaire wealth is often a stock of assets rather than a flow of spendable income — and that distinction makes wealth taxes far more complicated than they appear.

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