Three Economic Lessons From 2016 — And Three Questions For 2017

The past year has taught some harsh lessons. Trust polls more than you trust the conventional wisdom, for example — but don’t trust the polls too much. Don’t overestimate how much Americans care about fact-checking, or underestimate how much they hate the news outlets that conduct it. And don’t ever forget how much Britons love to tell off continental Europe. Compared to the tumult and upheaval that have dominated the political world this year, the U.S. economy in 2016 has been calm, even boring. Job growth held steady. Unemployment fell. Overall economic growth was, as ever, disappointing but not exactly weak. In other words, more of the same. Still, look a bit closer and you’ll see that 2016 did teach some valuable lessons, while also leaving plenty of questions unanswered for 2017. Here are three of each.

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