Economics for the common good
I’ve never felt more in need of economic smarts than this week, as the GOP tax bill passed. The last time I felt so ignorant was around the financial crisis in 2008, and it wasn’t until two years later, when the documentary Inside Job came out, that I finally started to understand what a “credit default swap” was, not to mention many other problematic moves that sparked that crisis.
Today I listened to a podcast by Ezra Klein (via The Weeds, at Vox), that actually helped me understand more of what is in this tax bill, and more of why it is so problematic. It’s the first clear description I’ve found, and I highly commend it to you — even if, given how long it is, you need to listen while you’re driving or cooking or doing something else.
Do take the time, this is important stuff, and it’s very clearly explained.