Benjamin Studebaker

Yet Another Attempt to Make the World a Better Place by Writing Things

Category: Economics

Why Cryptocurrencies Don’t Work as Currencies

I’ve been surprised lately by the number of people who have brought up or asked me about Bitcoin and other cryptocurrencies. It’s moved me to take a minute to point out why many economists and political economists don’t get excited about them.

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Sarah Huckabee Sanders’ Bar Metaphor Is Really Stupid

A friend of mine recently sent me this clip of White House Press Secretary Sarah Huckabee Sanders attempting to defend President Trump’s “Cut Cut Cut” tax plan with an elaborate bar metaphor. Let’s call it the “Allegory of the Tab”:

A couple days later, my dad told me he heard someone bring this up, as if it were some kind of serious argument for Trump’s plan. I can’t let this stand. The Allegory of the Tab is too reductive, too simplistic, too brain-dead to pass without a post exclusively and entirely about how dumb it is.

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If Donald Trump Wants to Help Puerto Rico, He Should Help It Become a State

President Trump said he wants to help Puerto Rico deal with its debt (though his administration immediately U-turned on this). The territory has been devastated by multiple hurricanes and a long-running economic crisis. But while disaster aid and debt relief would be very good for Puerto Rico, what it really needs in the long-run is statehood. Here’s why.

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The Stock Market is Not Evidence of Trump’s Success

If you ask a Trump supporter to name some of the president’s accomplishments, invariably one of the first responses you get is a booming stock market.

The thing is, a booming stock market is not a good economic indicator. Not in this day and age. Here’s why.

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What’s Really Going on In Venezuela

Many in the western press are oversimplifying the story about Venezuela, blaming its economic crisis more or less exclusively on the socialist policies of President Nicolas Maduro and his predecessor, the late Hugo Chavez. Government policy has contributed to the shape the crisis has taken, but there is a lot more going on than meets the eye. I want to try to tell a fuller story.

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