Ezra Klein argues in his recent op-ed (and at greater length in his compelling new book with Derek Thompson) that a central problem facing Democrats is the crisis of scarcity. He contends we can solve the pressing problems facing Americans—and offer a retort to Elon Musk and Donald Trump—with a new policy and politics of “abundance.” Abundance, as Klein describes it, is a political movement of supply: Instead of focusing on the (re)distribution of scarce existing resources, politicians should focus on expanding supply.
Ya know, another way of saying this is that we have not been paying attention to DEMAND. Seems like demand has been a dirty word since Ronnie Raygun turned everything into supply. But we forget there is a necessary tension between supply and demand. It is called Say’s Law and we need economic prognosticators who embrace it rather than beating around the supply bush.
Ya know, another way of saying this is that we have not been paying attention to DEMAND. Seems like demand has been a dirty word since Ronnie Raygun turned everything into supply. But we forget there is a necessary tension between supply and demand. It is called Say’s Law and we need economic prognosticators who embrace it rather than beating around the supply bush.