Stiglitz and Piketty and Saez
Make no doubt about it. The economic game is over and done with. Stiglitz and Piketty and Saez are like the Holy Trinity of economics. You can try arguing with one or the other, but all get three together and even God her ownself will simply add "What they said!"
Piketty and Saez:
Okay! Now what? Now we check out Inequality.org for ling story short:
Unleashing the Transformative Potential of an Equitable Economy
Policy interventions that and address some of the systemic drivers of inequality. They fall into four categories, including policies that:
Lift the Floor, establishing minimal standard of living and safety nets
Level the Playing Field, by ensuring investments in public goods and elimination of the distorting influences of power and privilege
Deconcentrate Wealth, through interventions that directly reduce the concentration of wealth and power
Rewire the System, to undercut inequality drivers
A Way Forward
It’s hard to imagine many of these solutions moving forward at the national level in the current political environment, but there are opportunities to incubate them in states and localities and lay the groundwork for a future political realignment. One way forward is to build power and win some of these rule changes by focusing on “pressure points” that can accelerate the transition to the next system. This will require game changing campaigns that accomplish three things:
Reduce the concentration of wealth and power, break up institutions, or redistribute wealth and power
Open up economic opportunities for those excluded in the current system.
Capture the imagination of a wide constituency of people willing to fight for policy change.
Three examples in the paper are:
Dividends for all: linking common wealth sources of revenue to programs that expand economic stability
Taxing excessive carbon solution and directing revenue to investments in renewable energy, green infrastructure and just transition efforts.
Sounds simple enough, right? Here's the full report (long read):
Reversing Inequality: Unleashing the Transformative Potential of an Equitable Economy
Have a nice weekend.