Reducing inequality - and a general conclusion

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Chapter 11 in Liberal Solidarity, 2021, pp 228-250 from Edward Elgar Publishing

Abstract: The reduction of inequality is central to liberal solidarity. It is essential to expand education and training so that, in an increasingly knowledge intensive society, everyone has a chance of skilled and fulfilling work. Job guarantee schemes may be less suited for a highly differentiated workforce in a complex economy. A guaranteed basic income is an important proposal that allows for freedom of agency and individual choice. Prominent criticisms of a basic income are rebutted. The alternative proposal of an expansion of basic services is also worthy of some experimentation, but there would be problems in over-reliance on state bureaucracy. Thomas Paine’s proposal for taxes on inheritance combined with grants to individuals reaching the age of maturity is still relevant and commendable. Other forms of wealth tax, including a land tax, should also be considered. The chapter concludes with a consideration of the future of liberal capitalism.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (6)

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