Oren Cass Profile picture
Apr 14 6 tweets 3 min read Read on X
1/ Today's Understanding America, You're So Vain, You Probably Think This Post Is About You, takes a look at the bizarre social media reaction to this @FrankLuntz tweet and what it says about the blinkered innumeracy and elitism of reindustrialization's skeptics.
2/ The Rorschach test here is one separating people who can think rationally and empathetically about the wide range of opportunities their fellow citizens might pursue, and those who lack that basic capacity. @scottlincicome apparently falls in bucket 2. Image
@scottlincicome 3/ See, if 25% of respondents say they’d prefer a factory job to their current job, that suggests an enormous opportunity for improvement in many lives. But @gtconway3d thinks only people who themselves see a factory job as their best option should support more factory jobs. Image
@scottlincicome @gtconway3d 4/ We see this same thinking elsewhere in our politics. @MattZeitlin draws one analogy directly, to the idea that there’s something wrong with people who want their own kid to go to college but don’t think we should have an education system oriented toward college for all. Image
@scottlincicome @gtconway3d @MattZeitlin 5/ This style of virtue-signaling from the elite is so obviously self-interested and socially harmful that it’s hard to believe it passes as virtuous at all. Which, unlikely @ernietedeschi's view from the Yale @The_Budget_Lab, really does sum it all up. Image
@scottlincicome @gtconway3d @MattZeitlin @ernietedeschi @The_Budget_Lab 6/6 A healthy politics celebrates pluralism and embraces an obligation to advance it. An elite that thinks it is supposed to promote only its own path is helping only itself.

Read/subscribe here: understandingamerica.co/p/youre-so-vai…Image

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Oren Cass

Oren Cass Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @oren_cass

Apr 6
Tough crowd, sore subject I guess. Deleting tweet and archiving it here. Only point I was trying to make is that I think comparative advantage mostly determines composition of trade, other factors drive level. I was curious how people would describe it. You didn't disappoint... Image
I particularly appreciated Alex's enthusiastic ALL CAPS confidence that comparative advantage explains the slave trade.
Thanks also to everyone who thinks richer countries always run deficits with poorer countries because the poorer countries can't afford to buy as much. I must have missed that chapter in Ricardo.
Read 7 tweets
Apr 3
1/ If you don't like what Trump did on reciprocity, that's fine. But if you're claiming it's indecipherable, you're not trying very hard.

In February, in Understanding America, I explained exactly how this might look and why:
2/ "Some analysts have taken the threat of 'reciprocal tariffs' to mean literally holding a mirror up to the tariff regimes of other countries... there’s no reason to believe that’s what the administration is pursuing." understandingamerica.co/p/the-one-word…
3/ "Trump’s orders indicate a desire to assess the extent of imbalance in market access between the U.S. and each of its trading partners, and then use a tariff to counteract it." Image
Read 6 tweets
Feb 3
1/ Some thoughts on how to understand the tariff kerfuffle, at the aptly named Understanding America.

To start with, you have to distinguish between four different uses for tariffs: 🧵 Image
2/ Uses of tariffs:

#1: Funding. Tariffs can generate revenue.

#2: Decoupling. Tariffs can shift supply chains.

#3: Rebalancing. Tariffs can promote domestic production.

#4: Negotiating. Tariffs can provide powerful leverage.
3/ Notice that the first three uses of tariffs are fundamentally economic in nature and the policymaker’s goal should be to impose them in a stable and predictable way that minimizes economic costs domestically and creates confidence that they will remain for the long-term.
Read 10 tweets
Dec 10, 2024
1/ The latest Understanding America, "Here’s How the Return of American Industry Will Actually Look," focuses on one of the most inexplicable realities of the U.S. economy:
Manufacturing productivity has been falling for more than a decade. 🧵Image
2/ The decline in manufacturing productivity is critical for how we understand the economic challenges we have faced and the economic opportunities in front of us.

The narrative goes that automation has been reducing employment and we just need better mechanisms for coping...
3/ But that’s exactly backward. Our problem is that we have been experiencing too little productivity growth, especially for the typical worker, including from automation. Only with incentives for, and investment in, much more of it will we get the nation back on track.
Read 10 tweets
Sep 27, 2024
1/ The main reason we're winning the tariff debate is we're right.

But if I'm being honest, it helps a lot that the other side is just not good at what they do.

I genuinely wish there were a better anti-tariff case making the rounds than this one. 🧵
2/ The most important thing to recognize is the basic failure of reading comprehension. Is it rude to say they don't even understand the debate they're engaged in? Maybe. But I think it's nicer than concluding that they're lying.
3/ I wrote: "Trump’s proposal ... has drawn resounding mockery from economists, and, in turn, from the mainstream media."

Pino describes this as: "Cass misdirects the reader by suggesting the mainstream media and economists are in cahoots."

That's not what "in turn" means.
Read 10 tweets
Jul 11, 2024
Very insightful @greg_ip @wsj look today at the economic battle within the GOP between old "pro-business libertarian wing" and "a growing contingent of conservatives skeptical of big business, ambivalent about tax cuts and vocally supportive of tariffs."

Three observations: Image
1. Ideas matter! @AmerCompass, a team of seven with a budget below $2M, can serve as a "counterweight" to the entire legacy establishment because we make actual arguments that happen to be right. 100x spent on ad hominems and brute ideological enforcement still loses ground. Image
@AmerCompass 2. The primary affiliation of every person quoted in the "pro-business libertarian wing" begins "former."

"Rubio and Vance might not be representative of GOP lawmakers, who are mostly free marketers, said Patrick Toomey..." who is no longer in the Senate. Image
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(