Errant Nobels Try Again

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Celebrated economists are once again using their perch to make political proclamations. We should ignore them.

NRPLUS MEMBER ARTICLE S eventeen Nobel prize–winning economists have declared that the reconciliation bill currently in Congress, known as “Build Back Better,” is an essential part of a “robust economic recovery.” They are violating the science they got a prize for by ignoring economic tradeoffs.

Build Back Better (BBB) is a 2,100-page exercise in redistribution and government-directed changes in energy markets. The Nobel winners believe that redistribution is the fair thing to do, and that the U.S. should do its part to reduce worldwide carbon emissions. While arguably worth doing, both of these activities would shrink the U.S. economy. Tradeoffs are one of the economic

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