JD Vance, a politician and author known for his unconventional economic views, and Tim Walz, a governor advocating for universal free school lunches, discuss their unique approaches to economic policy. Greg Rosalsky highlights Vance's surprising departure from traditional conservatism, particularly in labor rights and industrial policy. Walz breaks down the stigma around school lunches, revealing their benefits for middle-class families. The conversation explores how both candidates reflect shifting tides in American political economics.
JD Vance's economic approach signifies a shift in Republican ideologies, advocating for government intervention and support of American manufacturing.
Tim Walz's implementation of universal free meals and child tax credits reflects his commitment to enhancing economic security for families and children.
Deep dives
Economic Views of JD Vance
JD Vance's economic perspective marks a significant departure from traditional conservative ideologies. Contrarily to the usual skepticism of government intervention in the market, he advocates for a more aggressive industrial policy that promotes American manufacturing through measures like tariffs. This shift is seen as unconventional, especially as many mainstream conservatives have historically opposed picking winners and losers in the economy. His support for various government roles in revitalizing key industries signifies a notable evolution in the Republican economic narrative.
JD Vance's Stance on Antitrust
In the realm of antitrust, JD Vance showcases an unexpected alignment with progressive views, particularly regarding regulation of big tech. Unlike many Republicans who criticize regulatory efforts, he has publicly praised Lena Khan, the head of the Federal Trade Commission, highlighting his agreement with her aggressive antitrust strategies. Vance argues that large tech companies hinder competition, stifling smaller startups and undermining free speech—positioning him as a unique figure within the current Republican landscape. His willingness to collaborate with figures like Elizabeth Warren further illustrates his complex stance on balancing market competition and consumer rights.
Tim Walz's Focus on Economic Security
Tim Walz has actively worked to enhance economic security for families, especially children, during his tenure as governor of Minnesota. He implemented significant tax policies, including a robust child tax credit that aims to alleviate childhood poverty, demonstrating a commitment to progressive social welfare. His administration also introduced universal free meals for K-12 students, provoking debate over the balance between universal versus means-tested assistance. Walz's approach signals a broader commitment to supporting working families, contrasting with more traditional Democratic viewpoints by embracing specific policies that align with his populist ideals.
Next week, JD Vance and Tim Walz will face off in the only confirmed vice presidential debate ahead of the election. As voters look ahead to what their economic policies might be, we look back to see what they have said and done, and how it turned out.
Planet Money's newsletter author Greg Rosalsky has spent some time combing through the economic records of Vance and Walz, and has some knowledge to share. Why does Walz support universal free school lunches, and why do some criticize him for it? Why have some called Vance a "Khan-servative?" And, how much do these candidates represent a break from the past?
This episode was hosted by Nick Fountain and Greg Rosalsky. It was produced by James Sneed and Emma Peaslee. It was edited by Meg Cramer. Sierra Juarez fact-checked it, and it was engineered by Valentina Rodríguez Sánchez. Alex Goldmark is Planet Money's Executive Producer.