Benjamin Studebaker

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

Tag: Stagflation

Why Bernie vs Hillary Matters More Than People Think

Lately the internet has become full of arguments about the merits and demerits of Bernie Sanders and Hillary Clinton. Over the past couple weeks, I’ve been discussing and pondering all the various views about this, and I’m increasingly of the opinion that most of the people engaging in this debate don’t really understand what is at stake in the democratic primary. This is in part because many Americans don’t really understand the history of American left wing politics and don’t think about policy issues in a holistic, structural way. So in this post, I want to really dig into what the difference is between Bernie and Hillary and why that difference is extremely important.

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Ted Cruz vs. Ellen Page and Jimmy Carter

Ted Cruz has had a busy week. First the Texan senator and republican presidential candidate got in an argument about LGBT rights and religious freedom with actress Ellen Page. Then he launched an awkwardly timed attack on the presidency of Jimmy Carter, who was recently diagnosed with cancer. I’m not here to scold Cruz for being impolite. What I would like to do is talk about the substantive arguments Cruz makes and the way he makes them. So consider this post something of a doubleheader. Read the rest of this entry »

The Yom Kippur War Butterfly Effect: How the Arab-Israeli Conflict Inadvertently Led to the Global Economic Crisis of 2008

We often hear the argument that the American alliance with Israel is damaging to the American interest due to the Islamic terrorism it yields. Many Muslims resent the United States for aiding Israel at the expense of the Palestinians, and this resentment is often fertile grounds for radicalization when combined with the economic hopelessness many young Muslims face in their home countries. Today, however, I’d like to discuss something different–the extent to which the US alliance with Israel contributed to the global economic crisis in 2008.

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Stagflation: What Really Happened in the 70’s

If you argue long enough about economics, you are bound to run into the stagflation argument. The stagflation argument claims that the big state and stimulus caused high inflation, high unemployment, and poor growth during the seventies. Usually this argument is not fully argued by those who believe in it–it is merely asserted, and the rest of us are expected to accept that it is simply the case that the seventies happened that way. Today I’d like to endeavour to illustrate what actually happened in the seventies, what the real causes of stagflation were, and what sort of lessons might be pulled from it.

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