DeLong on Stephanomics
DeLong on Stephanomics
2022-10-27
DeLong on Stephanomics:
Then Stephanie speaks to University of California, Berkeley economist Bradford DeLong about his new book, Slouching Towards Utopia. DeLong argues that the 20th century essentially started in 1870, a technological turning point after which production was rapid enough that (at least theoretically) we could bake a large enough economic pie to provide for all. The fact that, in the real world, everyone doesn't have enough is a symptom of our failure to distribute goods and services equitably, DeLong observes. Getting in the way of that goal as well are human foibles including a desire to distribute wealth to their children and a related disdain for inheritance taxes, as well as abhorrence of people who appear to be getting a free ride, he says…
G-d couldn't fairly distribute the pie. I'm baffled this isn't seen as an impossibility. We can make it better, but who knows how much? No one. You do your best.