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Education might help but it won't solve the problem. As a thought experiment, what if the government let everyone pursue phds for free, would we still have poor
by frgtpsswrdlame 9y ago
Education might help but it won't solve the problem. As a thought experiment, what if the government let everyone pursue phds for free, would we still have poor people? Of course! The way to fix this problem is through direct redistribution. Trade and globalization are not pareto efficient, they are kaldor-hicks efficient. And while we have been sending jobs overseas to the benefit of the upper class, we've also been lowering their tax rates, essentially benefitting the rich at the expense of the poor on both sides of the equation. High, progressive tax rates and strong social safety nets can get us out of this mess, everything else is a diversion.