Though I support the government’s ability to offset private sector deleveraging with budget deficits, I find it troubling that more specifics on the distribution of funds and current tax laws are often omitted from the discussion.Bubbles and Busts
Furthering the Post-Keynesian View of Wealth and Income Concentration
Joshua Wojnilower
Michael Hudson has been addressing this for some time and recommends taxing away economic rent — land rent, monopoly rent and financial rent — while leaving gains from productive contribution alone.
2 comments:
See my comment there.
Tom,
Thank you posting this link.
I'm currently reading Hudson's "The Bubble and Beyond", though only a couple chapters in. He certainly does address these issues and appears to be a good resource. Maybe his work can be a jumping off point for further discussion.
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