Reasonably Optimistic

The Democratic Socialists of America was once on the fringes of American politics. Now, DSA candidates are winning primaries, challenging establishment Democrats and pushing the Democratic Party leftward on everything from housing and health care to policing and Israel. But can the movement turn that energy into lasting political power?

Host Megan McArdle is joined by David Weigel, a national politics reporter at Semafor, to discuss the DSA’s rise and the question it raises for Democrats: Is democratic socialism the future of their party?

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On platforms like Kalshi and Polymarket, users can bet on elections, interest-rate cuts, corporate earnings and almost any question with an answer that will eventually be revealed. Those bets can produce a different kind of forecast than a traditional poll. But what happens when betting on everything becomes easier and more socially acceptable?

Host Megan McArdle is joined by Robin Hanson, an economist at George Mason University and one of the earliest advocates for prediction markets. They discuss how betting markets compare with polls and experts, the risks of manipulation and insider trading, whether people should be able to bet on elections and wars, and what it would take for prediction markets to become a useful tool for business and government.

This episode was originally published on May 13, 2026.

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The polls suggest a strong Democratic showing in the 2026 midterms. They also reveal an electorate angry about the cost of living, political corruption and a system many believe is rigged against them. But what will that anger mean at the ballot box?

Host Megan McArdle is joined by Kristen Soltis Anderson, a pollster and co-founder of Echelon Insights. They break down what the polls are telling us, whether Democrats are headed for a wave and why voter anger doesn’t always translate into support for the policies party leaders expect.

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The American Dream can feel farther away than ever. Housing is expensive, good jobs seem harder to find and the people getting rich seem to be concentrated in a handful of big cities. But some of America’s biggest fortunes are being built far from the spotlight: by auto dealers, contractors, beverage distributors and the owners of the unglamorous businesses that keep everyday life running. So who are these overlooked millionaires — and what do they tell us about opportunity in America?

Host Megan McArdle is joined by Owen Zidar, a professor at Princeton University and co-author of “The Everywhere Millionaire.” They discuss the hidden world of private-business wealth, why early work experience matters and how retiring boomers may create new opportunities for the next generation to buy and run America’s small businesses.

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There’s a lot to complain about in the American political system: Congress lurches from deadline to deadline, presidents claim more and more power and each side of the aisle treats the other as an existential threat. So how did our political system get this way—and what would it take to make it work again?

Host Megan McArdle is joined by Yuval Levin, director of Social, Cultural, and Constitutional Studies at the American Enterprise Institute and editor-in-chief of National Affairs. They discuss why Congress no longer rewards negotiation, how primaries and a 50-50 party system fuel polarization, what Trump has changed about the presidency and the Republican Party, and the reforms that could help America move beyond gridlock.

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