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I agree with the tree analogy, it is suboptimal for all to benefit a few. But that is a policy tool which can be used to reverse the excessive cost of optimizat
by riazrizvi 10y ago
I agree with the tree analogy, it is suboptimal for all to benefit a few. But that is a policy tool which can be used to reverse the excessive cost of optimization born by one half the country to benefit the other half. It's about getting the balance right.
- eru 10y agoAlas, tariffs don't actually achieve the aim you are setting here. Something like land value tax plus basic income might, coupled with sensible, steady monetary policy.
- chillacy 10y agoI have mixed feelings. I agree that some form of welfare is generally necessary. And Tariffs at least are a type of welfare which rewards those who work. The bad side is that the work is essentially wasted economic input. Akin to paying people to handmake a bottle of beer when we could be automating the task, and economic forces encourage the other 999 workers to learn something new. But I get that it can be hard, especially for older folks or those without access to education opportunities. I recall reading an article about the corporate structure in Japan which offers guaranteed employment for life to the same entity, and if you job vanishes they simply retrain you for another job, but you'll be set for life. That seems like it has benefits.