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The Glenn Show
Larry Kotlikoff – Do We Need an Economist in the White House?
Sep 20, 2024
Larry Kotlikoff, a prominent economist known for his advocacy of social security reforms, discusses groundbreaking changes needed in economic policy. He proposes a modernization of social security to support vulnerable populations and critiques high tax rates that disincentivize work. Kotlikoff also tackles the concept of a consumption tax versus income tax, examines the complexities of inflation, and emphasizes the need for fiscal reform addressing national debt. His insights blend economic theory with practical solutions for a more equitable financial future.
59:59
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Quick takeaways
- The necessity of economic expertise in policy-making is emphasized to effectively tackle complex issues like Social Security reform and unemployment.
- Proposals for revitalizing Social Security suggest shutting it down for new entrants while protecting existing beneficiaries, echoing models like Singapore's Provident Fund.
Deep dives
The Need for Economic Expertise in Policy Making
The importance of having economists involved in policymaking is emphasized, as current members of Congress lack formal training in relevant fields. Expertise in economics is crucial for addressing complex issues such as unemployment, crime, and social welfare. The discussion argues that technical expertise should guide policy decisions rather than populism or charismatic leadership, particularly in the context of critical reforms like Social Security. By prioritizing evidence-based approaches, successful solutions can be identified, promoting better outcomes for society.
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