Economist Noah Smith and Erik Torenberg discuss the legacy and failings of Bernie Sanders’ movement with regards to privatization, student loans, healthcare, and the wealth gap. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102 -- Sponsors: GIVEWELL | DAFFY | NETSUITE  Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout.  Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102  NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist. -- RECOMMENDED PODCAST: The HR industry is at a crossroads. What will it take to construct the next generation of incredible businesses – and where can people leaders have the most business impact? Hosts Nolan Church and Kelli Dragovich have been through it all, the highs and the lows – IPOs, layoffs, executive turnover, board meetings, culture changes, and more. With a lineup of industry vets and experts, Nolan and Kelli break down the nitty-gritty details, trade offs, and dynamics of constructing high performing companies. Through unfiltered conversations that can only happen between seasoned practitioners, Kelli and Nolan dive deep into the kind of leadership-level strategy that often happens behind closed doors. Check out the first episode with the architect of Netflix’s culture deck Patty McCord. https://link.chtbl.com/hrheretics -- Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co -- LINKS: Noah Smith, Here are Some Better Versions of Bernie Sanders’ Ideas - https://www.noahpinion.blog/p/here-are-some-better-versions-of James Galbraith - https://en.wikipedia.org/wiki/James_K._Galbraith Robert Reich - https://en.wikipedia.org/wiki/Robert_Reich Barbara Ehrenreich - PMC Socialism - https://library.brown.edu/pdfs/1125403552886481.pdf Pivotal Decade by Judith Stein: https://amzn.asia/d/ao86cew – X / TWITTER: @noahpinion (Noah) @eriktorenberg (Erik) – Timestamps (00:00) Episode Preview (01:32) The Bernie movement’s evolution (05:00) Factionalism and aggression marking the approach of socialists (15:36) Glass-Steagall litmus test (19:00) Sponsors: Daffy | NetSuite (21:11) Can neoliberalism work? (22:34) Biggest mistakes of privatization: the non-profit industrialization complex (26:18) Lack of industrial policy is a pro-finance policy (27:30) Chief neoliberal shill (30:05) How Biden is carrying forward the legacy of Bernie’s movement (34:10) Inflation killed student loan relief (besides the courts) (41:00) How Bernie bungled his egalitarian movement (48:45) Wealth tax (50:55) Healthcare