Why Is This Man Running for President? (Update)

The 'Freakonomics Radio' episode 'Why Is This Man Running for President? (Update)' features an in-depth interview with Andrew Yang, a Democratic presidential candidate who, despite his initial obscurity, has become one of the surprises of the campaign. The episode begins by outlining Yang's background, from the son of Taiwanese immigrants in upstate New York to a successful entrepreneur and nonprofit founder. Yang's work with his nonprofit, Venture for America, which aimed to create jobs in struggling American cities, led him to the realization that the American Dream was failing for many as jobs were being lost to automation and economic shifts.

Yang's presidential run is framed by his belief that traditional economic models, including the concept of 'creative destruction,' no longer serve the majority of Americans. He asserts that the 'war on normal people' is intensifying, with automation threatening to displace millions of workers. Yang's signature policy proposal, the 'Freedom Dividend,' is a form of universal basic income (UBI) that would provide every American adult with $1,000 per month. He argues that this would help address the economic displacement caused by automation and would be funded by a new value-added tax (VAT) on the companies benefiting the most from technology.

In addition to UBI, Yang proposes 'Digital Social Credits,' a system designed to incentivize and reward socially beneficial behaviors that the market typically ignores. He also suggests unconventional ideas, such as having a psychologist in the White House and increasing the presidential salary to reduce the temptation of post-presidential lobbying. Throughout the episode, Yang criticizes both political parties for being out of touch with the struggles of ordinary Americans and insists on the need for a new approach to governance that directly addresses the challenges posed by the Fourth Industrial Revolution.