Angus Deaton | Economics in America: An Immigrant Economist Explores the Land of Inequality

[@arnowillekes7979]

Very important work thanks ✊🏽🙏🏽👍🏽

[@nthperson]

Ingrained in the socio-political arrangements, laws and institutions of the United States is the redistribution of income and wealth from producers to non-producing rentier interests. As Henry George warned us at the end of the 19th century, this problem had to be addressed or the republic would fail. The consequences of this long-standing problem of systemic privilege is worsening in the United States because of the unwillingness of those at the top of the U.S. wealth ladder to accept progressive taxation in order to provide support for those who are at or close to the bottom. The optimum solution was offered by Henry George, a solution that has very little chance of ever being implemented for the simple reason that as owners of a residential property, some 60+ percentage of households benefit to some extent by having a stake in the system.

[@stephenyang2844]

I wonder is US' liberal capitalism will collapse, or stagnate from extreme inequality and despair of the under-previlliaged.