Benjamin Studebaker

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

Tag: politics

October 5, 2022

How the War in Ukraine Ends

Russia has moved ahead with annexing the occupied oblasts of Ukraine. This is a point of no return for the Putin regime. It is hard for the regime to maintain its legitimacy when it is trying and failing to invade a foreign country. The regime looks weak and incompetent, and with no real possibility of replacing the leadership through an election, there is no easy to way to restore confidence on short notice. But as difficult as that situation is, it is much harder for the regime to maintain its legitimacy when it is trying and failing to defend the territory the regime acknowledges as part of Russia. A Russian president who cannot successfully invade Ukraine is weak. A Russian president who cannot defend Russia is pathetic. The decision to annex the oblasts therefore sends a clear message–the Putin regime will defend the territory it now holds, or it will die trying.

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August 6, 2022

The Inflation Reduction Act is Not Designed to Reduce Inflation

As the midterms approach, the Biden administration is looking to pass some part of its Build Back Better plan. Biden managed to fund $550 billion in new traditional infrastructure spending. But the American Society of Civil Engineers argues that we have an infrastructure funding gap of $2.59 trillion. The bipartisan infrastructure bill barely makes a dent in that. The rest of the administration’s proposals have continually run aground. Various senators threaten to withdraw their support all too quickly, and this has caused the administration to water down its proposals over and over again. Now there is a new version of the human infrastructure bill, called the Inflation Reduction Act. This bill claims to raise over $700 billion in new revenue in an effort to fight inflation, reduce the deficit, and fund new investments in energy. It sounds like a significant achievement, but it’s not. Here’s why.

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March 10, 2022

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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February 22, 2022

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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April 12, 2021

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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