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Capitalisn't

Harris vs. Trump: Economics Beyond The "Vibes"

Capitalisn't

University of Chicago Podcast Network

Stigler Center, Chicago Booth, Socialism, Antitrust, University Of Chicago Podcast Network, Growth, 087667, Policy, Monopoly, Professors, Distortion, Research, Competition, Capitalisnt, Inequality, Promarket, Politics, Policymaking, Special Interest, Economics, Efficiency, Regulations, Chicago, Business, Markets, University Of Chicago, Kate Waldock, Capitalism, Friction, Bethany Mclean, Government, Macroeconomics, News, Education, Waldock, Georgetown, Microeconomics, Luigi Zingales, Zingales, Finance, Ucpn

4.5584 Ratings

🗓️ 3 October 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

Last week, United States presidential candidates Kamala Harris and Donald Trump delivered hour-long speeches outlining their economic policies for the country if they win in November. This week on a special episode of Capitalisn’t, Bethany and Luigi weigh in on the candidates’ economic proposals. What makes this discussion particularly urgent is that neither candidate is espousing a traditional Republican or Democratic platform. Further, despite the length of their respective speeches, there were few specifics. Instead, both candidates are running on "vibes" more than detailed manifestos. With just under five weeks to go before Election Day, Bethany and Luigi sift through the proposals around taxes, tariffs, price gouging, and the “Opportunity Economy,” helping us separate the substance from the slogans.

Transcript

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0:00.0

I'm Bethany McLean.

0:03.7

Did you ever have a moment of doubt about capitalism and whether greed's a good idea?

0:08.9

And I'm Luigi Zengalis.

0:10.3

We have socialism for the very rich, rugged individualism for the poor.

0:15.7

And this is Capital Isn't, a podcast about what is working in capitalism.

0:19.7

First of all, tell me, is there some society you know that doesn't run on greed?

0:24.2

And most importantly, what isn't?

0:26.2

We ought to do better by the people that get left behind.

0:29.1

I don't think we shouldn't kill the capital system in the process.

0:32.5

As everyone knows, there is an election coming up soon.

0:35.4

We thought it would be important to look at the

0:37.8

economic proposals that the two candidates are putting forward through our unique lengths. Which

0:43.6

of their proposals are capital ease and which are our capital isn't? Of course, this is a challenging

0:50.5

exercise in several respects. As a friend of mine said, both candidates are running on

0:55.5

vibes more than specific proposals. What makes this discussion particularly urgent and particularly

1:01.4

interesting is that neither candidate is espousing a traditional Republican or democratic point

1:08.0

of view. Take tariffs before the Trump presidency.

1:12.2

Tariffs were pretty much a no-no for Republicans,

1:15.4

I think since Herbert Hoover, and we're talking 90 years ago.

1:20.9

Trump levied tariffs on thousands of products valued approximately $380 billion in 2018 and 19,

1:27.8

and the Biden administration, rather than lifting those tariffs, has kept them in place.

1:32.4

And in May 24, announced new tariff hikes on additional $18 billion of Chinese goods,

...

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