Benjamin Studebaker

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

Tag: Inequality

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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I’m a Political Theorist, and I Hate the “Equality”/”Equity” Chart

Have you seen it? There’s this chart that goes around and around the internet, with three people of different heights attempting to watch a baseball game. I hate it so much, but I suppose I have to show it to you, in case you’re not familiar:

Image result for equality equity Read the rest of this entry »

Why Bernie Sanders Matters More Than People Think

Every time I find a way to say that there is no one like Bernie Sanders, there are people who don’t believe me. Aren’t there other candidates who support the same policies he supports now? Some of them are younger. Some of them aren’t old white guys. Why can’t it be one of them, why can’t it be someone new? Over and over, I have tried to find ways to explain that there is a real difference between Bernie Sanders and everyone else. Today, as Sanders announces his candidacy for the presidency, I’m going to try one more time.

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The Press is Helping Howard Schultz Blackmail the Democratic Party

Howard Schultz, the billionaire Starbucks executive, is not very good at politics. His independent campaign for the presidency has produced some of the lowest favorability ratings in American political history. Just 4% of respondents in a recent Change Research poll view him positively while a whopping 40% view him negatively. Schultz clearly will never win the presidency. The purpose of his campaign is to blackmail Democratic primary voters into nominating a centrist. This was obvious from the start, but Schultz has now made it explicit, offering to drop out of the race if the Democrats nominate someone he considers acceptable:

I would reassess the situation if the numbers change as a result of a centrist Democrat winning the nomination.

So we have a billionaire everyone hates who is attempting to use his wealth to fund a presidential campaign no one wants so that he can intimidate ordinary Democratic primary voters into voting for his preferred candidate. Most billionaires intervene in primaries by donating to the candidates they like–Schultz is threatening to depress Democrats’ general election vote counts to get his way. Initial polling shows he might take two to four points from a Democratic nominee. This billionaire is helping Donald Trump because he is mad at primary voters. And yet, despite this, he continues to receive an immense amount of free publicity from American journalists. Just this week, CNN gifted Schultz with a televised town hall, and piles and piles of media outlets elected to cover the things Schultz said. Much of this coverage was negative, but as we’ve seen with Donald Trump, giving someone free press–even negative free press–helps them build name recognition. 56% of people still don’t know who Schultz is. Based on the early polling, for every 10 new voters who become familiar with Schultz, one of them might become a Schultz supporter. Telling people he exists is unhelpful. Even this post, insofar as it introduces new people to Schultz, is counterproductive. But I do want to make a wider point about the media’s relationship with wealth, and hopefully that wider point is worth the cost of mentioning this cretin. Read the rest of this entry »