James Pethokoukis

AEI5 questions for Tim Wu on Big Tech, antitrust, and the consumer welfare standard Have we entered a new Gilded Age? Are Facebook, Google, and Apple today's Standard Oil, Northern Securities Company, and US Steel? On this episode, professor Tim Wu discusses the history and legacy of antitrust law in America, as well as whether it's time to break up big-tech.  Tim Wu is a professor at Columbia Law School where he focuses on antitrust, copyright, and communications law. His latest book is “The Curse of Bigness: Antitrust in the New Gilded Age.” Below is an abbreviated transcript of our conversation, you [...]
Tue, Feb 19, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIThe undue alarmism over America's wealth inequality ‘crisis' At least the fantastical Green New Deal attempts to address an actual problem: climate change. That's less obviously the case with various new tax proposals meant to solve America's “wealth inequality crisis.” Evidence that America's ever-expanding stock of wealth has become concentrated in fewer hands isn't itself evidence of a crisis. Nor does “tolerating extreme inequality mean accepting that it's not a gross policy failure,” as inequality researchers Gabriel Zucman and Emmanuel Saez recently wrote. In what way is it a policy failure if extraordinary wealth is derived from the rise of innovative companies [...]
Fri, Feb 15, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEI‘The Curse of Bigness': A long-read Q&A with Tim Wu Have we entered a new Gilded Age? Are Facebook, Google, and Apple today's Standard Oil, Northern Securities Company, and US Steel? On this episode, professor Tim Wu discusses the history and legacy of antitrust law in America, as well as whether it's time to break up big-tech. Tim Wu is a professor at Columbia Law School where he focuses on antitrust, copyright, and communications law. His latest book is “The Curse of Bigness: Antitrust in the New Gilded Age.” What follows is a lightly edited transcript of our conversation. You can download [...]
Thu, Feb 14, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIThere is no more valuable ‘digital dividend' than technological progress California Gov. Gavin Newsom's “digital dividend” plan suffers a fatal flaw. Consumers are already sharing in the wealth “that is created from their data,” as Newsom puts it. They are already receiving tremendous value from the zero-price content their data supports via targeted advertising. That mean seem trivial to those politicians who want Big Tech to start cutting checks. (Or more checks since they do pay taxes and cut paychecks to their workers, who then spend the money, which turns into income for someone else.) But what consumers get in return [...]
Wed, Feb 13, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIDon't expect huge budget savings from ‘Medicare for All' Members of the audience greet Senator Bernie Sanders (I-VT) during an event to introduce the “Medicare for All Act of 2017” on Capitol Hill in Washington, U.S., September 13, 2017. Reuters/Yuri Gripas. I hear this all the time on social media: If America spent its money on health care the way Europe does — with a much smaller share of national income going to health care — more could be spent on other priorities. But probably not, as this bit from my recent podcast interview with AEI health economist Ben Ippolito explains: Right, and as [...]
Fri, Feb 08, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIPoliticians and the media should realize there's good reason to think American wages haven't been stagnant Much of American political debate, left and right, assumes something has gone badly wrong in the American economy. And whether the culprit is globalization, technology, or rapacious rich people, the end result has been stagnant worker wages. How can anyone say US-style capitalism is doing just fine if take-home pay isn't? But those making such claims, whether on the left or right, really need to grapple with this chart: The blue line is the “stagnant wages” line, and it's not hard to find version of it accompanying [...]
Fri, Feb 08, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIWhat does Medicare for All really mean: A long-read Q&A with Benedic Ippolito Is Sen. Bernie Sanders' ‘Medicare for All' proposal really Medicare for all? And what are the real costs associated with single-payer health care? On this episode, AEI's Benedic Ippolito discusses the oft ignored implications of the health care plans popular among 2020 Democratic presidential hopefuls. Benedic Ippolito is a research fellow in economic policy studies at the American Enterprise Institute where he focuses on health economics. What follows is a lightly-edited transcript of our conversation. You can download the episode by clicking the link below, and don't forget to [...]
Thu, Feb 07, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIThe fatal flaw of the Green New Deal is that it doesn't take climate change seriously When you're a singular planetary species that's doing something novel to the atmosphere, some measure of caution is warranted. As Harvard economist Martin Weitzman has written, “The probability of a disastrous collapse of planetary welfare from too much CO2 is non-negligible, even if this low probability is not objectively knowable.” Via Twenty20. And that uncertainty argues for reasonable, precautionary action. For instance: money for clean energy and geoengineering research, financed by a carbon tax. (And we certainly want to keep the economy as dynamic and innovative as [...]
Thu, Feb 07, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS
AEIExposing the flaws of Modern Monetary Theory: A short-read Q&A with Stan Veuger Rep. Alexandria Ocasio-Cortez has said it “absolutely” should be part of our conversation about the economy. During the presidential campaign, Sen. Bernie Sanders' chief economist was an adherent. But what the heck is Modern Monetary Theory? On this episode, economist and AEI scholar Stan Veuger breaks it all down, discussing his latest article for AEI Economic Perspectives titled Modern Monetary Theory and Policy. Stan Veuger is a resident scholar here at AEI where he specializes in political economy and public finance. What follows is a lightly-edited transcript of our [...]
Wed, Feb 06, 2019
Source: James Pethokoukis Category: JAMES PETHOKOUKIS