August 31, 2007
How Do We Fix Inequality?
This may shock you, but the answer is more equitable public policies.
August 31, 2007 | Permalink
Posted by: Buddy the elf | Aug 31, 2007 10:35:36 AM
Why fix what ain't broke? Inequality isn't a bug, it's a feature.
Or so the current Republican ideology (and every Republican candidate but Huckabee) maintains, anyway.
Posted by: Tom Hilton | Aug 31, 2007 12:25:39 PM
Why fix what is broke. Inequality is a feature of the bug.
Posted by: Bruce Wilder | Aug 31, 2007 12:33:48 PM
American workers have no idea of the need to bargain collectively AND to bargain sector-wide, as it is done around the better paid world -- that is the alpha and omega of American inequality. In what amounts to a cult: the free market is misunderstood to free us of the responsibility or worry to equalize power in the labor market.
The free market should be seen as just the OS of the economy, the neutral operating system -- nothing more (remarkable as it is) which can run monopoly, monopsony, the race to the bottom or sector-wide bargaining with equal ease.
The ULTRA SIMPLE answer to American inequality is to stop running the race to the bottom and start running sector-wide bargaining.
Most economists can only see unfair market outcomes when the perps are as big and colorful as Standard Oil and John D. Rockefeller -- totally missing the same unfairness (not "distortion" or "failure" -- see below) at the fast food level.
I would no longer use the terms "market failure" or "market distortion" having gained the understanding that the the market (magical as it is at what it does) should be expected to be a value free, morally neutral sorting mechanism -- just the OS.
American labor has to wake up to how unionization is done in the rest of the world -- thats all!
Posted by: Denis Drew | Aug 31, 2007 4:44:00 PM
Posted by: judy | Oct 11, 2007 6:38:33 AM
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