When people talk of the economy being strong, they don't seem to feel that they, too, are better off.
Interpretation
This quote highlights the disconnect between national economic indicators and individual economic well-being.
Daniel Kahneman points out that while discussions about a strong economy may be prevalent, many individuals do not perceive an improvement in their own financial situation. This suggests that economic strength as measured by statistics does not necessarily align with the personal economic experiences of the average person, highlighting a disparity in perception and reality.
In practice
During a lecture on economic indicators, one might quote Kahneman to illustrate the gap between statistics and personal experience.
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