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Krugman Reminds us That Protectionism for Bankers Is a Very Powerful Political Force

  • Article
  • Apr 8, 2023
  • #Politics #Banking #PoliticalEconomy
Dean Baker
@DeanBaker13
(Author)
cepr.net
Read on cepr.net
1 Recommender
2 Mentions
That was really a sidebar in his piece ridiculing Florida Governor Ron DeSantis’ attack on “woke” money, but it is worth taking a second to appreciate how protecting the rich is so... Show More

That was really a sidebar in his piece ridiculing Florida Governor Ron DeSantis’ attack on “woke” money, but it is worth taking a second to appreciate how protecting the rich is so completely the accepted norm in American politics. The piece is directed against DeSantis’s bizarre attack on the idea of a digital currency issued by the Federal Reserve Board.

It’s not clear whether DeSantis has any real concern or is just trying to convince the MAGA crowd that he can be every bit as crazy as their hero, in spite of his Harvard Law degree. However, insofar as there is some discernible issue that is bothering DeSantis, it seems to be that a Fed digital currency may make it more difficult to evade taxes and commit other crimes. So much for “LAW AND ORDER!”

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Louis-Philippe Rochon @Lprochon · Apr 8, 2023
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A must read from@DeanBaker13. I have l long thought this but never write on it. Glad we are getting this out in the open.
Louis-Philippe Rochon @Lprochon · Apr 8, 2023
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A must read from @DeanBaker13. I have l long thought this but never write on it. Glad we are getting this out in the open.
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