2min chapter

Capitalisn't cover image

The Argentinian DOGE

Capitalisn't

CHAPTER

Intro

This chapter delves into the tension between regulations and economic growth, highlighting how overregulation can hinder innovation. It introduces the Department of Government Efficiency (DOGE) and its mission to enhance governmental operations while reducing federal expenditures.

01:46
Speaker 1
By putting all those safety measures, what is it that you're destroying? Maybe you're destroying, there are a lot of things that cannot occur in the economy because people cannot go through the hurdle of all this regulation, okay? So what you kill is much more damaging than what you're trying to protect. I'm
Speaker 3
Bethany McLean. Did you ever have a moment of doubt about capitalism and whether greed's a good idea? And I'm Lucia Zingales. We have
Speaker 1
socialism for the very rich, rugged individualism for the poor.
Speaker 2
And this is Capital Isn't, a podcast about what is working in capitalism.
Speaker 1
First of all,
Speaker 3
tell me, is there some society you know that doesn't run on greed? And most importantly, what isn't? We
Speaker 1
ought to do better by the people that get left behind. I don't think we should have killed the capital system
Speaker 2
in the process. So
Speaker 3
if the audio is a little bit off, I need to apologize to my listeners because the desire to produce timely episodes of capitalism make me work even when I'm traveling.
Speaker 2
At this point, it's almost impossible not to have heard of DOGE. It's the acronym for the brand new Department of Government Efficiency, which is going to be headed by Elon Musk and Vivek Ramaswamy. DOGE is also a play on the cryptocurrency Dogecoin, I guess a favorite of Elon Musk. Clever. The name also serves to obscure the fact that Doge is not, in fact, a government agency. But for sure, its goals are grandiose, streamlining government, something that has eluded pretty much everyone who has set out to do it, including Ronald Reagan. Nor is Doge going for small. Musk spoke of cutting $2 trillion from federal spending, which is about 30% of the annual figure. Trump has called Doge the Manhattan project of our time.

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