CrosswordNewsletters
DAILY BEAST
ALL
  • Cheat Sheet
  • Obsessed
  • Politics
  • Crime
  • Entertainment
  • Media
  • Innovation
  • Opinion
  • World
  • U.S. News
  • Scouted
CHEAT SHEET
    POLITICS
    • Fever Dreams
    • Biden World
    • Elections
    • Opinion
    • National Security
    • Congress
    • Pay Dirt
    • The New Abnormal
    • Right Richter
    • Trumpland
    MEDIA
    • Confider
    • Daytime Talk
    • Late-Night
    • Fox News
    U.S. NEWS
    • Identities
    • Crime
    • Race
    • LGBT
    • Extremism
    • Coronavirus
    WORLD
    • Russia
    • Europe
    • China
    • Middle East
    INNOVATION
    • Science
    TRAVEL
      ENTERTAINMENT
      • TV
      • Movies
      • Music
      • Comedy
      • Sports
      • Sex
      • TDBs Obsessed
      • Awards Shows
      • The Last Laugh
      CULTURE
      • Power Trip
      • Fashion
      • Books
      • Royalist
      TECH
      • Disinformation
      SCOUTED
      • Clothing
      • Technology
      • Beauty
      • Home
      • Pets
      • Kitchen
      • Fitness
      • I'm Looking For
      BEST PICKS
      • Best VPNs
      • Best Gaming PCs
      • Best Air Fryers
      COUPONS
      • Vistaprint Coupons
      • Ulta Coupons
      • Office Depot Coupons
      • Adidas Promo Codes
      • Walmart Promo Codes
      • H&M Coupons
      • Spanx Promo Codes
      • StubHub Promo Codes
      Products
      NewslettersPodcastsCrosswordsSubscription
      FOLLOW US
      GOT A TIP?

      SEARCH

      HOMEPAGE
      0

      Megan McArdle: Presidents Can’t Fix the Economy!

      Campaign Fantasy

      It’s delusional to ask one man to bring the country prosperity, argues Megan McArdle in our latest Op-Vid.

      Megan McArdle

      Updated Apr. 21, 2017 3:12PM ET / Published Oct. 25, 2012 4:45AM ET 

      Mandel Ngan / AFP-Getty Images

      It’s a ritual that seems as old as the Republic: every four years, two men get up and tell us that they—and they alone—can make the economy grow faster. “Elect me president,” each one says, “and I’ll put a chicken in every pot, a new car in every garage, and another zero on every paycheck. Elect the other guy, and you might as well take a vow of poverty right now.”

      It’s remarkable enough that presidential candidates make such unlikely claims, but what’s even more amazing is that we seem to believe them. We attribute all sorts of magical qualities to the president, but none is more unreal than the ability to make the economy grow on command. The economy is big, and the president is just one man. And if you ask your neighbors, you’ll find that very few people are standing around, just waiting for the president to tell them to get moving and generate some prosperity.

      After a few decades of listening to politicians make claims for their economic management powers that are literally incredible, you’d think we’d have been disillusioned. But as this election cycle seems to indicate—and as I stress in this Op-Vid, directed and produced by filmmaker Joe Posner—that’s the opposite of the truth. When their economic promises fail, we just ask them to promise harder.

      READ THIS LIST

      DAILY BEAST
      • Cheat Sheet
      • Politics
      • Entertainment
      • Media
      • World
      • Innovation
      • U.S. News
      • Scouted
      • Travel
      • Subscription
      • Crossword
      • Newsletters
      • Podcasts
      • About
      • Contact
      • Tips
      • Jobs
      • Advertise
      • Help
      • Privacy
      • Code of Ethics & Standards
      • Diversity
      • Terms & Conditions
      • Copyright & Trademark
      • Sitemap
      • Best Picks
      • Coupons
      • Coupons:
      • Dick's Sporting Goods Coupons
      • HP Coupon Codes
      • Chewy Promo Codes
      • Nordstrom Rack Coupons
      • NordVPN Coupons
      • JCPenny Coupons
      • Nordstrom Coupons
      • Samsung Promo Coupons
      • Home Depot Coupons
      • Hotwire Promo Codes
      • eBay Coupons
      • Ashley Furniture Promo Codes
      © 2023 The Daily Beast Company LLC