| 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 |
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