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Thanks to George Melloan for his positive review of our book in the WSJ. He does worry that Matt and I are “redistributionists”, but while we do argue in our book in favor of certain policies that redistribute income downwards, we argue much more... https://www.wsj.com/articles/trade-wars-are-class-wars-review-exports-and-angst-11592952312
...against policies that redistribute income upwards – at the expense of ordinary households, debt and economic growth – and propose that these policies be reversed. We don’t propose, in other words, that we shift from a neutral economic system to a politicized one, but rather...
...that all economic systems are political, and that if we want better outcomes we must understand how they affect different groups differently.
This isn’t a new thought, by the way: during most of the first 200 years of American history, it was widely understood even at...
This isn’t a new thought, by the way: during most of the first 200 years of American history, it was widely understood even at...
...the popular level that economic, financial and banking systems are highly political and highly redistributive. The divisive fights we had over tariffs, free banking, silver, the central bank, the spread of railroads, the federal role in “internal improvements”, extending...
...the frontier, immigration, and so on, were widely understood as conflicts over the way income was to be allocated.
Our point is that the global trade and capital regime we have tends systematically to repress consumption by distributing income upwards, and while we don’t...
Our point is that the global trade and capital regime we have tends systematically to repress consumption by distributing income upwards, and while we don’t...
...claim that this regime is the only cause of rising income inequality, it is an important cause and, more importantly, it is powerfully self-reinforcing.
