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These people have been around for at least a decade. There is nothing new about them, nor are they part of the political right or that right wing.
It's more like the intellectuals, such as university professors, are gaining influence online, not that the internet is replacing intellectuals. Tyler's article got 350 comments, which is nuts. That's comparable to influencers on on YouTube. University professors are not losing influence at all.
This is not evidence of it having peaked. DEI is still a big deal.
This has been the basic conservative view for decades. It's not a new thing.
That's because it's not so much as a political movement as it's an online or pundit movement. People like Tucker or Yarvin do not aspire to public office.
The pandemic response, such as shutdowns, quarantines, and mask mandates (which were of at best dubious efficacy) was a major blow to the status quo. This was their own doing. Then the inflation surge, which none of the experts saw coming. These events made the public lose faith in experts.
Trump? Greene? Boebert? De Santis (who’s at least very influenced by it)? All the people running for office under a Trumpist Republican type banner?
I think Tyler indirectly makes a distinction between my examples and yours. Your examples are core right-wingers involved in politics and check the boxes on the core issues important to the base, whereas Tyler's examples are a different type of conservative of a more intellectual or artsy bend, not involved in politics and may have flirted with the left. "Sohrab Ahmari", "Curtis Yarvin", and "Rod Dreher" are not at all like Boebert or Greene.
I think he was intentionally going for the intellectual leaders of the movement to make his case and deeper point.
Which is why he says at one point:
It’d be hard to argue that the figures I list are not part of the same wave of political thinking which Cowen is describing, IMO. I don’t see any tenet in which they fundamentally differ.
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Lawrence Summers, who is about as mainstream an expert you can think of, was predicting high inflation as early as Feb of 2021.
hmm here he is in Dec. 2020 advocating for inflationary policy https://www.marketwatch.com/story/larry-summers-says-deficit-reduction-would-be-catastrophic-argues-for-new-government-debt-yardstick-11606863495
and again here https://www.pbs.org/newshour/show/summers-u-s-government-should-spend-whatever-it-takes-to-control-virus
"Summers: U.S. government should spend ‘whatever it takes’ to control virus"
but then 5 months later he does a 180:
http://larrysummers.com/2021/05/24/the-inflation-risk-is-real/
This was after inflation already spiked.
So it's hard to say if he was right or not. Inflation already began to spike when he made his warning, but the problem was, it was too late. Maybe interest rates should have gone up sooner.
I don't think we yet have an adequate explanation for why inflation spiked so much. Stimulus played some role but so did possibly other factors.
Summer's argument is that the output gap at the beginning of the Biden administration was much smaller than the scale of the stimulus bill the administration was attempting to pass. It's possible to say, "We need some stimulus, but not that much, which will be inflationary".
Your second link is March 2020.
And Summers was warning about the scale of the stimulus package in February, 2021.
The point is that he did. They have like, models that let them distinguish between situations.
So, this is getting a bit into the weeds on the question, but the way to think of the relationship between fiscal stimulus and inflation is by thinking of the stimulus as just the same as anyone with a sufficiently large credit card. The path of monetary policy that achieved low, steady inflation prior to the over-sized stimulus at the beginning of the Biden administration probably looked something like slow rate hikes over the course of late 2021 and 2022 that eventually brought rates up to some point lower than they are going to end up being in our current timeline. The monetary stimulus of 2020 had been enough to prevent the lockdowns from causing serious, deep, long-lasting depression and opening up would have brought total spending back into line with the non-pandemic growth path of 2019 without the Fed having to slam on the breaks.
Then a huge amount of additional spending happened. The Fed suddenly had to change stances to a tighter policy sooner in order to stave off inflation but, importantly, they didn't. Inflation started to spike long before the Fed even started talking about tightening. Then they took most of a year before they started actually tightening.
So, it's still monetary policy causing the inflation (as only monetary policy can cause sustained inflation), but it's the stance of monetary policy being suddenly far too loose as a result of a change in the environment, rather than a change in the policy instrument. If the Fed had followed a policy path similar to its path in real life in a hypothetical world where the 2021 stimulus didn't happen or was much smaller, there probably wouldn't have been any inflation or it would have been much milder. If the Fed had appropriately offset the 2021 stimulus by moving forward and scaling tightening plans from the second half of the year or the next year to the first half of 2021, there probably wouldn't have been any inflation or it would have been much milder.
That is what I said, which for some reason people disagreed with, and my post was downvoted a bunch of times so i deleted it .
here is what I wrote:
With perfect hindsight, interest rates should have started going up after the stock market made new highs, which was in late 2020 instead of waiting until q2 of 2022. But this would have caused a market crash anyway.
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Yes, but the political right was predicting high inflation from 2020.
Yeah, but the political right is constantly predicting high inflation A stopped clock, etc ...
yeah, peter schiff has been saying this forever , and was wrong about the dollar falling
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