The Right’s New Argument Against Redistribution Is Stuck in the 1970s ...Middle East

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The Right’s New Argument Against Redistribution Is Stuck in the 1970s
Harvard economist Greg Mankiw, who was chairman of the Council of Economic Advisers under President George W. Bush, says Joe Biden’s $3.5 trillion reconciliation bill threatens economic prosperity. Mankiw doesn’t doubt whether, “from a narrow budgetary standpoint,” the United States can afford to spend $3.5 trillion. Unlike the reconciliation bill’s Republican opponents in Congress, he thinks we can. The problem, he says, lies in the “broader economic effects” of the bill’s economic redistribution.Mankiw’s argument appeared Friday in that space in the dead-tree New York Times that used to be reserved for lead editorials. The Times has lately been substituting op-eds for editorials. It’s a po

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