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PBS News Hour - Segments

What to know about the 'New Right' school of economic thought advocated by Vance

PBS News Hour - Segments

PBS NewsHour

News, Daily News

4.11K Ratings

🗓️ 10 November 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

Vice President-elect JD Vance is an advocate of a new school of conservative economic thought that says tax policy and other government intervention should be used to promote stronger families, communities and industry. To learn more about the goals of the "New Right," John Yang speaks with Oren Cass, founder and chief economist of the conservative think tank American Compass. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Transcript

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0:00.0

Vice President-elect J.D. Vance is an advocate of a new school of conservative economic thought.

0:06.7

It challenges Orthodox Republican stands on taxes, regulation, and free markets,

0:11.4

and says that tax policy and other government intervention should be used to promote the social conservative goals of stronger families, communities, and industry.

0:20.9

In a New York Times op-ed this weekend, a leading proponent of what's being called the

0:25.1

new right, advises President-elect Trump not to huddle with his supporters at Mar-a-Lago

0:30.4

and then see how much of their agenda he can advance, and to instead consider other ideas

0:36.4

and take the road less traveled.

0:39.1

Orrin Cass wrote that op-ed.

0:40.9

He's founder and chief economist at a think tank called American Compass,

0:44.8

and he's the author of a book, The Once and Future Worker,

0:48.1

A Vision for the Renewal of Work in America.

0:50.9

Tuesday's exit polls showed that there was broad unhappiness with the economy and the way things

0:56.5

were going. Two-thirds of the voters described the economy as not so good or poor, and 70% of them

1:02.9

voted for Mr. Trump. What do you think they were voting for? What changes do you think they were

1:07.2

voting for? Well, I think they were voting against what we've done in this country for 20 or 25 years now,

1:13.5

except during Mr. Trump's first term, which is basically just focused on this idea that all

1:19.8

people want is cheap stuff.

1:21.7

So the more we do globalization and move our jobs to China, the more we have an open border

1:27.4

and bring in low-wage

1:28.8

migrant workers, the better off will be. And we'll see high GDP numbers and the stock market

1:35.5

will go up and everything will be great. And the reality is that for most people, that has been

1:41.3

a catastrophic failure. And I think that explains a lot of Trump's popularity.

...

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