This morning, Democratic presidential candidate and Vermont Sen. Bernie Sanders (I) tweeted out his support for efforts to unionize the video game industry. He did so in a fashion truly appropriate for the man—one that made it clear that he doesn’t always grasp basic economics:
The video game industry made $43 billion in revenue last year. The workers responsible for that profit deserve to collectively bargain as part of a union. I'm glad to see unions like @IATSE and the broader @GameWorkers movement organizing such workers. https://t.co/Ia5gMG2v0w
— Bernie Sanders (@BernieSanders) June 18, 2019
US Agency Releases Startling Report on Anti-Christian Persecution in Major Islamic Country
Inside the US military playbook to cripple Iran if nuclear talks collapse
Spain readies for evacuations as a hantavirus-hit cruise ship heads for the Canary Islands
California abortion pill suppliers plot workarounds ahead of Supreme Court mifepristone decision
Accused street takeover mastermind charged after wild stunts, machine gun chaos: police
Catfish Farmers, Undertakers, Miners Celebrate Major Trump Admin EPA Deregulation
Connecticut pro-Second Amendment group sounds alarm on Glock-style ban, fear Democrats will go even further
California professor accused of killing pro-Israel protester will ‘likely’ avoid lengthy prison sentence
Watch As Democrat Xavier Becerra Calls Migrant Kids Lost Under His Watch MAGA Talking Point
LGBTQ ‘lavender graduations’ set to take place at major Christian colleges, including one with a drag show
Fact Check: No, Kash Patel Is Not Having Custom Bourbon Made on the FBI’s Dime
All gas, no brakes: Wild moments in Trumpworld this week that captured attention
Trump throws his base a UFO bone, but critics say it’s Iran ‘smoke and mirrors’
Two-party politics ‘dead and buried’ in UK after local election bloodbath
Democrats shy away from questions on whether Harris should run for president in 2028
In the tweet, Sanders confuses “revenue” with “profit.” This is not an insignificant mistake, but it’s one that is common in reporting about large American corporations. All too often, reporters talk about how much money a company takes in without offering any analysis of that company’s expenses. Amazon, for example, despite massive revenues has only recently begun making an actual profit. In the Time story that Sanders links to, writer Alana Semuels similarly fails to differentiate between revenue and profit when covering the efforts to organize.
It’s true that the game industry did bring in $42 billion in revenue last year from customers in the United States (and nearly $140 billion worldwide). But revenue is the money a company brings in before deducting its expenses, like, for example, workers’ wages. So, in reality, video game industry workers did get a cut of those billions. It’s only after such workers are paid (and other expenses are deducted) that we can talk about profit.
Sanders, of course, has a long history of failing to grasp the basics of market economics. He frequently sees marketplace choices as a threat, even as they open avenues and opportunities for our poorest citizens or provide all of us with ever improving mass entertainment.
Story cited here.









