Daily Clips: May 27th, 2016

What is the Presidential Election Campaign Fund? I had never heard of this fund before today, but its history is intriguing.

The Presidential Election Campaign Fund was conceived 40 years ago to level the presidential playing field and to give political unknowns a fighting chance…The program boosted outsiders like Democrat Jimmy Carter and Republican Ronald Reagan, and for years, it helped limit campaign costs. But with the explosion of campaign spending, fewer and fewer candidates have embraced the program. Today, it has become irrelevant.

What should we call the “sharing” economy? In our podcast on the “sharing” economy, we outlined just how many terms were used to describe this modern economic situation. Similarly, this Atlantic piece looks at the power of naming.

‘Obviously ‘the sharing economy’ is a misnomer, which the industry no doubt likes a lot,’ said Dean Baker, an economist and the co-director of the Center for Economic and Policy Research. ‘It’s got nothing to do with sharing. They’re profit-making companies.’

David Brooks speaks for my generation…again: I have written in the past about David Brooks’ capacity for condescension towards young people and his latest article does not disappoint!

This creates a tension in the minds of some students. On the professional side they are stressed and exhausted. On the political, spiritual and moral side they are unfulfilled.

On the professional side some students are haunted by the anxiety that they are failing in some comprehensive but undefinable way. On the spiritual side they hunger for a vehement crusade that will fulfill their moral yearnings and produce social justice.

This situation — a patina of genteel progressivism atop a churning engine of amoral meritocracy — is inherently unstable and was bound to produce a counterreaction.

“A patina of genteel progressivism” – looks like someone pulled out the thesaurus for their latest column!

US economic growth revised higher in first quarter: Not a perfect measurement of our economy’s strength, but at least it provides a useful talking point for Democrats as the incumbent party. Partisanship!

Nick Cassella

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