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Taking income from the rich and giving it to the poor is one way—again, temporarily—of boosting the real income growth of the poor and lower middle class. Like unfunded tax cuts, this remedy cannot be applied forever. Taxpayers in the top 5 percent of income already pay for more than 43 percent of the U.S. government, and taxpayers in the top 1 per

Tyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton

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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon

Keep in mind that median income growth has been slow, and stock prices—the valuation of capital—haven’t made lasting progress in a long time. As of the fall of 2010, the S&P 500 is more or less back where it had been in the mid-1990s. As economist Michael Mandel puts it, if neither labor nor capital is reaping much gain, can we really trust the

Tyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton

Tyler Cowen

open.spotify.com

The most important essay I read in the last month is by Lant Pritchett. He asks why the scarcest economic resources—entrepreneurial ability and technical talent—are going into automating an abundant resource: cheap labor. In the developed world, labor is expensive because of policy restrictions, and it is neither efficient nor equitable to use scar... See more

danwang.co • Definite optimism as human capital

In our society, there seems a general rule that, the more obviously one’s work benefits other people, the less one is likely to be paid for it,” the late anthropologist and activist David Graeber wrote, in 2018.

Jia Tolentino • Can Motherhood Be a Mode of Rebellion?

Give People Money: How a Universal Basic Income Would End Poverty, Revolutionize Work, and Remake the World

Annie Lowrey

amazon.com

Cover of Give People Money: How a Universal Basic Income Would End Poverty, Revolutionize Work, and Remake the World

2.5% of worker pay into a worker benefit account.

Sarah Kessler • Gigged: The Gig Economy, the End of the Job and the Future of Work

In 2020, Avital Balwit had won a Rhodes Scholarship and turned it down, first to run Carrick Flynn’s congressional campaign and then to give away FTX’s money. Leopold Aschenbrenner, who had entered Columbia University at the age of fifteen and graduated four years later as class valedictorian, had just declined a spot at Yale Law School to work for