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The Great Stagnation and the Possibilities of Redistribution
Tyler Cowen’s new e-pamphlet (The Great Stagnation) takes on the slowing gains to be had from social and technological progress and offers an interesting explanation of some of the trends that many people see as troubling: the flat arc of median incomes since 1973 and the apparently universal surprise that the last decade offered no…
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Is more illegal immigration the best we can do?
Will Wilkinson on Bryan Caplan’s (false?) dilemma: Bryan Caplan lays down a challenge to liberaltarians: From what philosophic point of view is “maximizing growth + lots of redistribution + the immigration restrictions lots of domestic redistribution naturally encourage” better than “maximizing growth + no redistribution + free immigration”? Whether you’re concern for the poor is Rawlsian,…
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Conceptual and Practical Obstacles to Futarchy
In his comments on my post last week, Robin Hanson asked about the conceptual work still needed to advance the cause of prediction markets as tools for governance.
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Hard Choices
Steven Maloney asked his students to stabilize the budget using the CRFB’s simulator. Some couldn’t do it without making draconian choices that were particularly painful for seniors, or undoing the President’s decisions to preserve troop levels in Afghanistan and extending the Bush-era tax cuts. Some wouldn’t do it: That students would hand in deficits of…
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How Taxation Effects Income Share (Not Much)
Last week, Greg Mankiw posted this graph without comment: I thought there was something weird about the graph, and it’s been nagging at me. For one thing, it compares the bottom four quintiles to the top 5 percent of Americans. For another, it ignores non-federal taxation. (State and local taxes are more difficult to calculate,…