| Want a transcript? Sign up for our free weekly e-letter, and you’ll get a transcript every week, plus a summary and link to the video: https://www.mauldineconomics.com/go/JM499G/MEC According to a recent poll by NBC News, 74% of Americans—Republicans as well as Democrats—now think that the country is moving in the wrong direction. What we need to turn the ship around, says Andrew Yang, a candidate in the 2020 presidential primaries, is new ideas and collaboration between the parties. In this week’s edition, we discussed: • The political cost of reform: Why our current political system rewards polarization and ideology • Is universal basic income a good idea? • How ranked-choice voting could end the winner-take-all dynamic of American politics • What can be done to lift the labor force participation rate • Why AI and industrial automation is the greatest threat to our economy If you want more of Andrew’s bold ideas on how to rewire American democracy for 21st-century problems, I recommend reading his book, Forward: Notes on the Future of Our Democracy: https://www.amazon.com/Forward-Notes-Future-Our-Democracy/dp/0593238672 __________________________ Video Time Stamps: 0:00 – Introduction 5:31 – How the current political system incentivizes polarization and gridlock 9:01 – How ranked-choice voting could soften partisan polarization 15:39 – The pros and cons of universal basic income 19:01 – The systemic dangers of a low labor participation rate 22:34 – What we need to change about the tax code 26:21 – Why the system discourages problem solving and good policy 29:34 – The ideal number of political parties |
Each week, investors and financial professionals around the globe turn to John Mauldin to better understand Wall Street, global markets, and the drivers of the world economy. And for good reason. John is a noted financial expert, a New York Times best-selling author, a pioneering online commentator, and the publisher of one of the first publications to provide investors with free, unbiased information and guidance—Thoughts from the Frontline—one of the most widely read investment newsletters in the world.
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