Benjamin Studebaker

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

Tag: politics

A Response to Adam Tooze’s Piece about John Mearsheimer

I ran across this piece by Adam Tooze about John Mearsheimer. Mearsheimer is the University of Chicago professor who gave this controversial talk about Ukraine, which has gone viral:

I was at University of Chicago for my MA in 2014, when John started giving this talk. I took his American Grand Strategy class. I sometimes call him “John” because in his lectures he often refers to himself in the third person by his first name. John describes himself as a “realist par excellence.”

Tooze is an economic historian. Online, he’s become increasingly prominent for his economic analysis. He was a reader at the University of Cambridge while I was doing my PhD there. He’s now at Columbia. I often read his stuff. I like both of these people, and I like both Chicago and Cambridge. I want to talk a little bit about how they relate to each other.

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What’s Really Going on in Ukraine

Most of the people writing about the Ukraine crisis are too busy trying to prove that they are on the right side to give decent analysis of it. They are worried about appearing too friendly to either Russia or the United States, and their career concerns are crippling their ability to say anything useful. Let’s talk about what’s really going on.

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On the Relationship Between Infrastructure Spending and Corporation Tax

The Biden administration has come out with a $2 trillion infrastructure plan. The United States is very behind on infrastructure spending–according to the American Society of Civil Engineers, the US faces a $2.59 trillion infrastructure shortfall over the next 10 years. Biden’s bill isn’t large enough to fill that gap, and a significant percentage of its spending is for other purposes. $400 billion is slated to go to nursing home services, a pressing need in its own right, but not one of the needs which the ASCE tracks in its reports. If you add it up, it looks like roughly half the Biden bill’s spending directly addresses the needs identified by our civil engineers, while the other half funds other projects. There’s nothing inherently wrong with this–it’s very normal for politicians to attach pet programs to popular bills that meet essential needs, and many of Biden’s pet projects have value. But it does mean that this bill’s infrastructure spending is less substantial than it initially appears. It will still leave us with a significant infrastructure shortfall. The more interesting issue–and the one I wish to discuss at some length–is the decision to pair this infrastructure bill with an increase in the marginal corporation tax rate.

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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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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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