Image: The site of the 1880 Democratic National Convention: Cincinnati's Music Hall
Richard Epstein @RichardAEpstein, Chicago Law, NYU Law, and Hoover; in re: What we’ve learned from the virtual Democratic National Convention. What policies will be presented in October: Green New Deal? Pollution-free by 2035? Democratic Socialist of America? Dunno. California has rolling brownouts—system refuses to spend to ensure that fossil fuels work. System breaks down; people may tire of all this.
The problem with wind and solar is that you get lots of them at times you don’t need them, Mene mene what the Germans did. Medicare for all will throw people with good private plans into an unclear public plan; massive redistribution from one plan to another, compliance costs will skyrocket. The Democrats have gone so far over the top. Nobody knows Biden’s positions on any of this. Can he keep his mind sufficiently organized to get from one part of a sentence to the next? Extremely frail. He’s turned over committees to the Sanders wing. Raising tax brackets diminishes tax income; and we find that out when it’s too late. Under Obama, teenagers and low-income workers didn’t do very well.