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View Diary: Ross Douthat's millennial marxists (98 comments)

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  •  I think we should just stick with what we know (2+ / 0-)
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    OldJackPine, whaddaya

    works. In the 20th Century, we do know that a system of free enterprise , commercial regulation, democracy, collective bargaining and progressive taxation leads to the greatest outcomes for the most people in any nation-state. It seems to strike the best possible balance between labor and capital in a free society.

    In the 21st Century, this system was upended by two forces: 1. The striking shift of policy that favors capital over labor (much like the 19th Century) and the global trade regime. To bring things into balance, we need to tip back towards labor (which may involve unions or soemthing new) and a modern international trading regime.

    Im still working my way through Piketty, but I think the first step would be to abolish private collection of taxes on the exchange of money and securities. Currently, those taxes go to bankers in the form of fees. They should instead by levied by governments, and bankers should only make money on their speculations. In other words, ordinary banking should be a public utility and not a business.

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