Diagnoses and prescriptions for “Late Capitalism”

Attribution: Milei.vencel This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.

Common problems

Competing Explanations

  • It’s all the Neoliberals’ fault! (Monbiot, and really too many to name)
  • The Great Stagnation (Cowen, Thiel, Gordon)

Common Among Explanations

  • The music stopped sometime around the 1970s

Competing Solutions

  • Make America Grow Again
    • YIMBY
    • Moonshots
  • Make Stagnation Safe Again
    • More tax and transfer
    • Expand the safety net

Question

  • Are the common solutions mutually exclusive?

Work-around for potential mutual exclusivity

  • Positive sum investments in public goods
    • Public health
    • Infrastructure
    • Education
    • Basic scientific research
    • Long-ball experimental investments

In Fairness

  • \\ Critics of inequality have a point when it comes to needing an elite that has skin in the game with respect to public institutions.
  • // Defenders of the growth(+) paradigm (see Cowen, Stubborn Attachments) have a point when it comes to needing a pie large enough to continually improve human well-being — not to mention meet our “embedded growth obligations” (Eric Weinstein).

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