Tag: Mark Thoma

Must-Read: Mark Thoma: ‘Economic Policy Splits Democrats’

Posted on by Brad DeLong

Must-Read: No, I do not know anyone who thinks this is correct. The Rubin wing of the Democratic Party thinks, today, that it paid much too little attention to policies to stem the growth of inequality in the 1990s, and that for the late 2010s and 2020s we need to focus on growth and distribution–on, in a phrase, equitable growth:

Mark Thoma: ‘Economic Policy Splits Democrats’: “Anyone think this is correct?:

[Nick Timiraos:] Economic Policy Splits Democrats, WSJ: The old guard… that laid the groundwork for… a two-term president watches with unease…. That alarm shines through in a new 52-page report from centrist Democratic think tank the Third Way…. “The right cares only about growth, hoping it will trickle down,” says Jonathan Cowan, president of Third Way. The left, meanwhile, is too focused on “redistribution to address income inequality.”… “This country is in real trouble,” Ms. Warren said at the May event. “The game is rigged and we are running out of time.” That kind of rhetoric gives Mr. Cowan fits because he says it isn’t a winning political message…. Third Way cites the failures of main street icons such as Kodak, Borders Books and Tower Records as proof that new technologies and delivery systems, as opposed to a “stacked deck” in Washington, are primarily responsible for economic upheaval…

Tower Records explains inequality? Seriously?… So, should I adopt a message I don’t think is true because it sells with independents who have been swayed by Very Serious People?… I’d rather convince people of the truth that more growth and more wealth creation won’t solve the problem if we don’t address workers’ bargaining power at the same time than gain their support by patronizing their views…. Maybe politicians have to tell people what they want to hear, I’ll let them figure that out, but I will continue to call it as I see it…

Must-Read: Mark Thoma: Truth-Defying Feats

Posted on by Brad DeLong

Must-Read: Mark Thoma: Truth-Defying Feats: “By Rick Perlstein:…

…Step right up! Be amazed, be enchanted, by the magic GOP unicorn-and-rainbow-producing tax cut machine! It takes a lot of energy to sustain a lie. When enough people do it together, over a sustained period of time, it wears on them. It also produces a certain kind of culture: one cut loose from the norms of fair conduct and trust that any organization requires in order to survive as something more than a daily, no-holds-barred war of all against all. A battle royale. A circus, if you prefer. And the act in the center ring? The Amazing Death Spiral. One performer does something so outrageous that anyone else who wishes to further hold the audience’s attention has to match or top it––even if they know it’s insane…. That’s what poor old John Kasich did. Hear him cry about his:

great concern that we are on the verge, perhaps, of picking someone who cannot do this job. I’ve watched people say that we should dismantle Medicare and Medicaid…. I’ve heard them talking about deporting 10 or 11 [million] people from this country…. I’ve heard about tax schemes that don’t add up.’

And what happened to him? Read the snap poll from Gravis research. Only 3 percent of Republicans thought he won the debate….

David Brooks says not to worry if candidates are lying about their economic plans, they are just exaggerating to make themselves more attractive to conservative voters…. Paul Krugman is, shall we say, unconvinced….

‘What matters is how a candidate signals priorities.’ Yes, and the priority seems to be lying is okay to get what you want. That’s a great trait to have in a president who might fact the decision to send our kids to die in a war he or she wants. Oh wait.”