from Encounter Books:
by Richard A. Epstein
Encounter Books
February 29, 2012
The painful performance of the American economy in the past decade is not a function of bad luck. It is the product of flawed institutional design. Right now we are reaping the harvest of efforts to reinvigorate the progressive programs of the New Deal that stress high progressive taxes, large transfer payments, strong labor laws, and major barriers to free trade. The government has committed itself to substituting state mandates for voluntary arrangements in labor and real estate markets, disabling both by retarding job formation and roiling real estate markets. To these multiple ailments, Epstein argues that the best recipe is a return to the flat tax of the classical liberal tradition and a reinvigoration of free markets. Just change these two levers, and we can find an effective classical liberal antidote to excesses of the modern progressive age.
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