Recent decades have continued to witness gains for the American economy — from new ideas, openness to trade, and technological advance. As they have since the Industrial Revolution, these gains reflect the upside of disruption and change. But there are downsides, too. These downsides have transformed our politics in recent years, and the economic disaster that has accompanied the coronavirus pandemic has only magnified them. Yet economists and defenders of markets have too often sought to dismiss these downsides or failed to appreciate their scope and character.
Read the fist two paragraphs and figured this was another philosopher.
We have been here many times before, Glen Hubbard. What did we try after the last Nixon devaluation? We tried revenue sharing. Read a little history. That worked for a while, then Reagan, Hubbard and a bunch of other idiots went Godotist and screwed it all up for forty years.
It is provable, repeatable and a story as old as the founding; the Senate/House mismatch. The denialism about this mismatch is Hubbard, all by himself. I suspect that if we invented the standard unit of denialism it would be Glen Hubbard.
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