Benjamin Studebaker

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

Tag: Coronavirus

The Wrong Kind of Unity

On the 20th anniversary of the September 11th attacks, the American media reflected on the war on terror. It was just a month after our withdrawal from Afghanistan, and you might think that the American press would be introspective about its own role in promoting our expensive blunders in the Middle East. But instead, the press expressed nostalgia for the “unity” the country experienced in the years immediately following the attacks.

Post-9/11 “unity” enabled our government to start a series of expensive, destructive wars. More than 200,000 people died in Afghanistan. More than 200,000 people died in Iraq. All told, the war on terror cost $8 trillion and killed an estimated 900,000 people. Both parties were culpable. Democrats voted to authorize these wars, and President Obama’s disastrous intervention in Libya cut that country’s per capita GDP in half:

Libya GDP per capita PPP

Unity has value, but this is not the right kind of unity. What is the right kind?

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Why Larry Summers is Wrong About $2,000 Stimulus Checks

Larry Summers, the former director of the National Economic Council under President Obama, has publicly spoken out against the $2,000 stimulus checks proposed by Bernie Sanders and President Trump. Summers’ argument is simple–the checks are projected to increase disposable personal income as a ratio of GDP to an unusually high level. For Summers, the fact that this figure would be elevated above normal levels is itself cause for concern. But the situation we are in is unprecedented, and it calls for an unprecedented response. Let’s run through some of the arguments.

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The Unfolding Economic Catastrophe in Europe

As the figures for the third quarter come in, I am growing very worried about the future of Europe. Coronavirus has unleashed a disaster there that is hard to comprehend. The numbers are extraordinarily terrible. Let me show you what I mean.

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These Executive Orders Make No Sense

After weeks of failed negotiations between the House and the Senate, the President is attempting to provide additional stimulus through executive action. The orders are probably unconstitutional–all money bills must begin in the House of Representatives, per the “origination clause”. They will be challenged in the courts, and I doubt they come into force. That said, if the President had ordered a strong aid package, I would be willing to consider supporting a challenge to congress’ spending authority. Congress has neglected its duty to protect Americans from the economic consequences of our anti-coronavirus policies. The scale of the disaster is so immense that I would support trying anything that might help tens of millions of unemployed people stay in their homes and put food on the table. When wealthy senators sit on their hands and deny ordinary people the means of subsistence because they feel offering aid might diminish their “incentive” to take jobs that pay less than $600 a week, they get no sympathy from me.

Unfortunately, I don’t get to make a provocative argument that the President is justified in running over congress, because this President has taken action that doesn’t make any sense.

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On Coronavirus, We Don’t Want to End Up Like Europe

As the rich countries begin to release economic data for the second quarter, we can begin to form a clearer picture of where things stand. To date, it is undeniably the case that the crisis has been much worse for the European states than for the United States. This may change going forward, because the United States is still seeing its case load expand. But at present, the mainstream media narrative that the United States has uniquely mismanaged the crisis does not withstand scrutiny. The Europeans now face new long-term, existential threats to their social programs. They are much worse off.

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