Capitalism needs a new social contract

Does the US Tax Code Favor Automation?

Minouche Shafik

Oxford Review of Economic Policy, 2021, vol. 37, issue 4, 758-772

Abstract: Capitalism needs a new social contract to better manage the consequences of technology and an increasingly diverse and flexible workforce. That social contract should retain the benefits of flexibility but do a better job of providing security in the form of mandatory benefits, putting a floor on incomes, and investing far more in helping workers adapt to economic shocks and rising automation. It also means a new deal with business that would achieve a more level playing field in how capital and labour are taxed.

Keywords: capitalism; social contract; labour markets; taxation of capital (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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