Opinions from influencers order top occupation economist alma mater Columbia University topic any agree & disagree
George Borjas, EconomistThe presence of all immigrant workers (legal and illegal) in the labor market makes the U.S. economy (GDP) an estimated 11 percent larger ($1.6 trillion) each year.
Smoot and Hawley ginned up The Tariff Act of 1930 to get America back to work after the Stock Market Crash of '29. Instead, it destroyed trade so effectively that by 1932, American exports to Europe were just a third of what they had been in 1929. World trade fell two-thirds as other nations retaliated. Jobs evaporated.
Michael Pettis, Professor of financePut differently, surpluses don’t arise because surplus countries can produce goods more productively or efficiently. They arise from the need to export domestic savings caused by the low household income share of GDP. Because surplus countries direct their excess savings mainly to the US, the only economy deep, flexible and open enough to absorb them, it is the US that must inevitably run capital ... See More
Jared Bernstein, Senior Fellow at the Center on Budget and Policy Priorities
disagrees Basic IncomeAre the good, effective anti-poverty programs currently in place fully funded? I’m quite certain they’re not, and thus the question for progressives is what gets us the bigger inequality-and-poverty-reducing-bang-for-the-buck: a dollar to UBI, or a dollar to things like quality pre-school, the EITC and CTC (wage subsidies for low-income, working families), expanding Medicaid, SNAP (food stamps), a... See More
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