478: Nicholas Eberstadt—The New Misery

Numbers don't lie—but they can obscure significant information. In this episode, Mike sits down with economist, demographer, and Harvard-educated brainiac Nicholas Eberstadt to explore a different kind of arithmetic—one that measures not just how many Americans we have, but how we're actually living. In his latest book, America's Human Arithmetic, Nick digs into three uncomfortable truths: first, the steady decline in prime-age labor force participation that persists even in strong economies. Second, the growing imbalance between those producing and those receiving—an economic equation increasingly tilted by entitlements and transfer payments. And third, a demographic slowdown marked by falling fertility and an aging population, reshaping the country's long-term trajectory in ways few are prepared for. Add those together and you get a new misery. This conversation is about the kind of math that doesn't stay on paper—the kind that shapes a nation's future whether we're paying attention or not. Tip o' the hat to our excellent sponsors ZipRecruiter.com/Rowe to post a job for FREE. GoodRanchers.com Use code MIKE to get $25 off your first order and FREE meat for life. Pestie.com/Mike to get an extra 10% off your order. mikeroweWORKS.org/scholarship Apply for a work ethic scholarship today!

You can listen to 478: Nicholas Eberstadt—The New Misery online on Radio and Podcast. Open the player on this page to stream the available audio.

478: Nicholas Eberstadt—The New Misery is an episode from The Way I Heard It with Mike Rowe by The Way I Heard It with Mike Rowe.

This episode is 01:32:56 long.

This episode was published on Apr 7, 2026.

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