Elizabeth Warren and the Revolution in Economics
The Political Scene | The New Yorker
The New Yorker
4.3 • 3.9K Ratings
🗓️ 24 October 2019
⏱️ 22 minutes
🧾️ Download transcript
Summary
Senator Elizabeth Warren has made a "wealth tax" one of the centerpieces of her presidential campaign. The plan was developed with the help of the economists Emmanuael Saez and Gabriel Zucman, part of a new generation of economists whose work focuses on the failures of free markets and advocate what many see as radical social change. John Cassidy joins Dorothy Wickenden to discuss how this cohort is affecting policy among the Democratic candidates, and whether the economy might help Donald Trump's 2020 re-election bid.
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| 0:48.5 | This is the political scene, a weekly conversation with New Yorker writers and guests about politics. |
| 0:54.6 | It's Thursday, October 24th. |
| 0:57.0 | I'm Dorothy Wickenden, executive editor of The New Yorker. |
| 1:00.6 | A younger generation of economists has embarked on what some of them describe as a revolution |
| 1:05.9 | in the discipline. |
| 1:07.6 | Their ideas which are influencing the current political debate include new data on extreme income inequality, |
| 1:14.6 | climate change, and continuing impediments to Hispanics, African Americans, and women in the workplace. |
| 1:21.6 | They include this year's three winners of the Nobel Prize in Economics, Esther Duflo, Abbechit Banerjee, and Michael Kramer, |
| 1:30.1 | who work on development economics, and Emmanuel Syez and Gabriel Zuckman, who are best known |
| 1:36.2 | as the architects of Elizabeth Warren's wealth tax, her signature policy proposal. |
| 1:42.2 | In May, Warren described the plan on PBS's News Hour. |
| 1:46.0 | This proposal says, look, it's not punitive. It says if you built one of the great fortunes in America, |
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