I'm all for doing things that work, but I think we need to be practical. That's why I focused a lot of my work on the various uses of information technology around strengthening the IRS. The computers we use to check on the tax integrity of the wealthiest people in our country use COBOL as their programming language. And when they raise ideas like the government should punish people for gouging, I think they're proposing things that probably ultimately won't be very effective and are likely to do very substantial damage to incentives for innovation.
We turn to economist and former Treasury Secretary, Lawrence Summers, to help us make sense of inflation, Silicon Valley Bank and what Biden should do next. Also on the agenda: why Summers believes in a politics and economics of opportunity — “not of envy.” Plus, why he thinks America needs more people like Jeff Bezos and Bill Gates.
Questions? Comments? Email us at on@voxmedia.com or find us on Twitter @karaswisher and @nayeema
Learn more about your ad choices. Visit podcastchoices.com/adchoices