Thought for the Day: February 26, 2016

I think it’s fair to say that a common goal of Sanders supporters is a more democratic distribution of political power. The wealthy hold a disproportionately large share. (Has it ever been otherwise?) That needs to change. To the extent that Sanders supporters embrace heterodox economics (I don’t particularly) I’ll hazard that it’s as part of an overall approach to creating a more democratic and equitable society.  Many things influence quality of life.  The macroeconomic climate is one them.  With respect to recent arguments over what Sanders’ plan would do for GDP growth, I doubt that I would support a candidate whose economic policies who likely lead to economic contraction – of the countries I might care to live in if I couldn’t live here, I don’t believe any have had a contracting GDP on a regular basis – but so long as the trend is upward I don’t think I care too much about the details.  Positive is good but more isn’t necessarily better.  To the extent that economic considerations are a priority for me, I’m much more concerned about how economic gains are distributed, opportunities for gainful employment, job stability, and that I’m compensated fairly than I am about the particulars of GDP growth.