Benjamin Studebaker

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

Tag: Oligarchy

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 »

Inequality: Better to be Greek or Roman?

Oftentimes when we discuss whether or not economic inequality is justifiable, we have the tendency to consider only the most extreme form of the left wing position. The right often defends its model of the  market economy by comparing it to the old communist states, to the Soviet Union–countries in which everyone, at least in theory, had the same income. In places like the Soviet Union, incentives fell apart. If you will be paid the same amount no matter how much work you do, there is little reason to do additional work. The trouble is that this argument straw mans all left wing positions as strictly egalitarian. The left wing position need not be that societies should be perfectly economically equal, it need merely be that much of the economic inequality we see is superfluous and unnecessary. That is the argument I intend to make today.

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