Where Bernie Sanders Went Wrong, PMC Socialists, and Student Loan Relief

"Econ 102" with Noah Smith and Erik Torenberg

Economist Noah Smith and Erik Torenberg discuss the legacy and failings of Bernie Sanders’ movement with regards to privatization, student loans, healthcare, and the wealth gap. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

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Sponsors: GIVEWELL | DAFFY | NETSUITE

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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

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Timestamps

(00:00) Episode Preview

(01:32) The Bernie movement’s evolution

(05:00) Factionalism and aggression marking the approach of socialists

(15:36) Glass-Steagall litmus test

(19:00) Sponsors: Daffy | NetSuite

(21:11) Can neoliberalism work?

(22:34) Biggest mistakes of privatization: the non-profit industrialization complex

(26:18) Lack of industrial policy is a pro-finance policy

(27:30) Chief neoliberal shill

(30:05) How Biden is carrying forward the legacy of Bernie’s movement

(34:10) Inflation killed student loan relief (besides the courts)

(41:00) How Bernie bungled his egalitarian movement

(48:45) Wealth tax

(50:55) Healthcare

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [e-mail].