Thread by @MarkVinPaul

Just finished Strain's book. The central message?

1) "The American Dream is alive & well...Workers do enjoy the fruits of their labor...The game is not rigged.” ⬆️ mobility is strong

2) Freedom=free markets. We get more freedom via entitlement reform, deregulation, and growth

3) Trump = bad. Why? He "rejected the GOP’s traditional emphasis on the need to reduce projected future spending on Medicare and Social Security."

It's fascinating to see praise for a book by @charlesmurray & @RichLowry but also @LHSummers @jasonfurman @JustinWolfers

Strain is deeply concerned about populist rhetoric on both sides of the isle, claiming modest proposal like $15 minimum wage, universal healthcare, and extending guaranteed pub ed beyond 12th grade are "radical" and are based on an "incorrect belief that the system is rigged"

I'll be honest. This is a truly radical right wing book. It's easy to read, & worth a look if you'd like to understand how elite conservative economists view the world. They see the main problem as not enough economic growth. Climate change? Not mentioned. Racial inequality? Nah

Gender wage gaps? Nope. Poverty? No way, Unemployment? Not a problem: “The common experience over the past several decades has been that jobs are readily available for those who want them.”

THE problem is not enough growth + too much regulation and too many entitlement programs.

Thus, the solution is to keep cutting taxes, to balance the budget, and to deregulate like hell. In other words, this is Milton Friedman trickle down 2.0. These theories have failed to address societies most pressing issues for decades, but what the hell, let's double down.

To me, there are real ways to revitalize the American Dream, if we mean improving living standards, building a robust democracy, and ensuring everyone has access to basic economic security. But you won't find any of it in Strain's work.

For those who pick up a copy, I encourage you to also check this response by @econjared m.usw.org/blog/2019/push…