Benjamin Studebaker

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

Tag: Capitalism

My First Book is Out

I’ve written a book! The Chronic Crisis of American Democracy: The Way is Shut is now out with Palgrave Macmillan. This book is not an adaptation of my PhD thesis. It’s written in plain language. If you like my blog, you’ll like the book. The paperback is the best deal, and you can find it on Amazon and on Springer’s website:

https://a.co/d/d59Zbkh

https://link.springer.com/book/10.1007/978-3-031-28210-2

The paperback should retail for no higher than $49.99. It’s never higher than $49.99 on Springer’s website, where they call it the “softcover.”

The argument of the book is provocative. Chapter 1, “The Unsolvable Problem,” argues that the American economic system is gradually subjecting Americans from many classes and backgrounds to enormous amounts of psychological stress. Chapter 2, “False Hope,” argues that none of the existing political movements in the United States are capable of responding to these economic problems. But because professionals in politics and in the media need to stay employed, they find ways to distract us from these problems and their inability to solve them. Despite all of this, Chapter 3–“Chronic Crisis”–argues that Americans remain committed to democracy as a political system. Even when we confront the system’s failures, we do not abandon it. Instead, we look for ways to revitalize it. We get excited about things like electoral reform, campaign finance reform, reforming the justice system, or devolving federal powers to state and local government. But most of the reforms we’re interested in don’t pass, and the ones that do pass do not actually enable us to solve the economic problems. Chapter 4, “Dream Eating Democracy,” examines how, over time, our understandings of liberty, equality, equity, and representation have been watered down, making it harder for us to use these terms to make meaningful critiques. Chapter 5, “No Escape,” argues that as the problem continues to go unresolved and our political discussions become more and more disconnected from it, most Americans sink into political despair. We go looking for other things to care about, and we try to hide from politics in enclaves. But the failures of the political system eventually affect every part of American culture, distorting every activity we get excited about. Chapter 6, “What If This Book is Wrong?” asks whether the book is too negative and explores whether there is any way out of the crisis.

I am really excited to talk about this book. If the argument is right, then the political professionals are failing the American people. It’s a critique that implicates every part of the political class–the left, the right, and the center. I wrote this book because I feel that people who write about politics have a duty to actually help ordinary Americans understand how and why the system fails to respond to them and meet their needs. The book is dedicated to all those who labor so that others may write.

I want to encourage people to get creative and imagine more fundamental ways of confronting our problems. I’m also interested in talking about this stuff. I would love to be convinced by somebody that there’s an easier way out of this mess than I think.

If you want to help me, there are three things you can do:

  1. Buy the paperback!
  2. Ask your library to buy the book.
  3. If you have a platform, invite me on it to talk about the book. I can request reviewer copies for people with some level of media presence. This includes podcasts! If you have a podcast, I’d love to do it.

Tell your friends!

A Class Analysis of the Twitter Crisis

In recent weeks, there have been extensive conflicts between Twitter workers and Twitter’s new owner, Elon Musk. One user made an attempt to analyze the conflict in class terms, framing it as a clash between “entrepreneurial capital” and the “professional-managerial class”:

I think this badly misreads the situation. The professionals who work at Twitter are wage-earners who don’t even have a labor union. They don’t dominate anything. But it also made me think–why isn’t there a better class-based reading of the conflict? Let’s give it a go.

Read the rest of this entry »

The Ungoverned Globe

I have a new piece out at Aeon on the liberal international order, its inadequacies, and the difficulties with replacing it. You can read it here:

https://aeon.co/essays/can-the-liberal-order-be-transformed-by-global-government

Why Federal Stimulus is Always Too Small

We never seem to learn anything. The global economic crisis of 2008 should have taught us a lot about how governments cope with major economic shocks, but the level of analysis in 2020 has been abysmal. The Great Recession reduced US economic output by 4.2% and destroyed 8.7 million jobs. To counteract the loses, the federal government injected stimulus, first through the Bush administration’s Troubled Asset Relief Program (TARP), and then through the Obama administration’s American Recovery and Reinvestment Act. Combined, these two programs provided about $1.2 trillion. That’s about $285 billion per percentage of point of GDP. It wasn’t enough. The economy recovered very slowly, too slowly for the Obama administration to maintain public support. The Democrats lost the House decisively in 2010. Obama tried to get an additional $447 billion in 2011, but the Republicans had no interest in it. Instead, they pushed for deficit reduction. Obama tried to play nice with them, signing the Budget Control Act in August and making one last push for more stimulus in the Fall. They took his cookies. The second stimulus never happened. As the years went by, rural America continued to lose jobs, and grew more and more resentful, setting the stage for Donald Trump in 2016.

Read the rest of this entry »

Coronavirus and the Fable of the Bees

Coronavirus puts elected governments in a sticky situation. If they appear to fail to solve the public health crisis, they will lose the next election. If, in the process of solving the public health crisis, they create an economic crisis, they will also lose the next election. They’re stuck between a rock and a hard place. It all reminds me of Bernard Mandeville’s “Fable of the Bees”. Mandeville’s bees live luxurious, decadent lives, and their drive for ever greater pleasures pushes them to build an extraordinarily elaborate economy to keep up with their excesses. One day, a divine intervention rids the bees of their vices, leaving them full of modesty and virtue. But this collapses demand and destroys the bees’ economy, annihilating their living standards. The fable serves to highlight one of the paradoxes of capitalism–the welfare of the poor becomes dependent on the vices of the rich. If the rich stop spending money on frivolous nonsense, the poor lose their jobs and go hungry.

Read the rest of this entry »