Home / Politics / Open thread for night owls. Another thing columnist Samuelson gets wrong (plus a primaries poll)

Open thread for night owls. Another thing columnist Samuelson gets wrong (plus a primaries poll)

Dean Baker at Beat the Press writes—It’s Monday and Robert Samuelson Is Wrong:

Robert Samuelson complains in his column that people want too much from government and that the Democratic presidential candidates are being unrealistic in promising them more. He begins the piece with John Kennedy’s famous “ask not what your country can do for you” line, then tells readers:

“Anyone who has paid the slightest bit of attention knows that government has expanded substantially over the past half-century.”

He’s of course right about this, but not in the way he discusses in his column, which is a diatribe against government social programs.

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The main way government has expanded over the last half-century is through interventions that redistribute trillions of dollars every year upward to people at the top of the income distribution.

The most obvious mechanism is through government-granted patent and copyright monopolies, which make items that would otherwise be cheap very expensive. This is most obvious in the case of prescription drugs, where drugs that would likely sell for less than $80 billion a free market will cost the country more than $460 billion this year.

This gap of $380 billion annually, is equal to 1.8 percent of GDP. It is five times the size of the food stamp program. And, that is just prescription drugs. Throw in at least $100 billion a year for medical equipment and other medical supplies, hundreds of billions more for computers and software, and you’re talking real money.

And Robert Samuelson has literally never said a word about these government-granted monopolies in any of his columns. I guess they are too big to worry about.

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Then we get to trade. The reason why trade has depressed the wages of manufacturing workers (and workers without college degrees more generally) and not doctors is that we structured globalization to subject manufacturing workers to international competition, while protecting doctors and other highly paid professionals. Yes, the government did a lot over the last five decades to raise the pay of the most highly paid professionals, but Samuelson also didn’t notice this one.

And then there is the head I win, tails you lose way we structure financial markets. We rigged the system in a variety of ways to create a financial sector that sucks money from the rest of us to make a small number of Wall Street types very rich.  

Yes, this the topic of my book Rigged [it’s free], but don’t expect to see the issue of designing the market to redistribute upward discussed in The Washington Post. They only have room to print recycled pieces complaining about people wanting health care, education for their kids, and a planet that’s habitable for life.

TOP COMMENTSHIGH IMPACT STORIES

QUOTATION

“Because, underneath all of this is the real truth we have been avoiding: climate change isn’t an ‘issue’ to add to the list of things to worry about, next to health care and taxes. It is a civilizational wake-up call. A powerful message—spoken in the language of fires, floods, droughts, and extinctions—telling us that we need an entirely new economic model and a new way of sharing this planet. Telling us that we need to evolve.”  
            
~~Naomi KleinThis Changes Everything: Capitalism vs. The Climate  (2014)

TWEET OF THE DAY

BLAST FROM THE PAST

On this date at Daily Kos in 2018Where the hell are Paul Ryan and Mitch McConnell while Trump destroys the world as we know it?

A lot of people in the media and even some conservatives are beginning wonder where the hell the leaders of the Republican party are as Donald Trump totally destroys our country, its reputation, and its place in the world as we once knew it.

After MSNBC’s Joe Scarborough asserted that history would be “brutal” in its assessment of Republican lawmakers’ “cowardice,” GOP political strategist Steve Schmidt responded:

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But Schmidt didn’t stop at Mitch McConnell. He went on to indict almost all Republican lawmakers on Capitol Hill.

On today’s Kagro in the Morning show: We’re back, after an extended graduation weekend, and now it’s back to school. Prof. Ian Reifowitz discusses his latest book, The Tribalization of Politics: How Rush Limbaugh’s race-baiting rhetoric on the Obama presidency paved the way for Trump.

BELOW IS THE 4th ROUND OF A POLL PREVIOUSLY TAKEN HERE ON MARCH 9APRIL 7, and May 8

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Poll



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Have you already made a firm decision about who you will vote for in the presidential primaries?



499
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Have you already made a firm decision about who you will vote for in the presidential primaries?

I am not old enough to vote.

I am not an American citizen.

I have decided, but my state has a caucus, not a primary.

I have not decided, but my state has a caucus, not a primary.


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