Noah Smith has a post today arguing that belief in skill is socially beneficial. For any given entrepreneurial venture, its success or failure will be the result of luck, skill, or a combination of the two. Smith argues that individuals who believe in the primacy of skill will be more likely to undertake the kinds… Continue reading Meritocratic delusions and inequality
Author: Matt Bruenig
Obama’s economic record and campaign simplicity
The majority of Americans think economic issues are the most important issues facing the country. Thus, Obama’s economic record will likely feature heavily in the upcoming campaign. Because of that, I thought it would be useful to explain in broad strokes what has happened under Obama. In the last quarter of 2008 — just before… Continue reading Obama’s economic record and campaign simplicity
The confused Quebec student protests
College students in Quebec have been protesting for months now about a proposal to gradually increase tuition from $2,168 to $3,793 by 2017. That is, the province is reducing its very substantial university subsidies, and replacing that reduction with higher tuition. The students are not happy, to say the least. Groups of people wanting government… Continue reading The confused Quebec student protests
Americans still big fans of the rich
According to a recent Gallup poll, Most Americans think that the United States benefits from having a rich class of people: Despite the rise in inequality and recent movements highlighting said rise, the broad views of Americans do not appear to have changed. A shift towards a radically egalitarian society is probably not in the… Continue reading Americans still big fans of the rich
Fun with the labor theory of property
As far as I can tell, most libertarians these days do not rely upon the labor theory of property anymore. It is kind of a silly doctrine to begin with, and Marx picked it up and ran with it, using it to show that all profit is theft. So these days, arguments for absolute property… Continue reading Fun with the labor theory of property