Offering free health care and college to everybody will cost money that needs to be raised in other parts of the economy. Some might embrace those trade-offs, others might reject them, but economists agree that there are trade-offs, that the realistic possibilities of our economy have constraints.
I spoke with Warren Gunnels, Sanders’s policy director, and he told me that the senator doesn’t believe there is a trade-off to be made. Sanders believes that raising the minimum wage, spending a trillion dollars on infrastructure and offering free college will fundamentally shift the structure of our economy toward the poor and middle class. It will inspire such enthusiasm and determination that more people will work harder and invest more, and the country will easily generate the tax income to pay for it.
All a bit Triumph of Will isn’t it?