If one wants to understand the rise of Donald Trump, it’s useful to consider two narratives. The first narrative goes like this: The fortunes of the white working class have been waning for decades. Real median wages for people without a college degree are lower today than they were forty years ago. Income inequality is now back to where it was during the Gilded Age. Meanwhile, trust and social cohesion have plummeted. As each new technological advance leaves low-skilled workers out in the cold and…