Ferguson on Murray
By Arnold Kling
As Murray shows, there is a conservative solution to the problem of inequality. Scrap the failing welfare programs of the ’30s and ’60s before they bankrupt America. Ensure that everyone has a basic income. Then simplify the tax code to restore the incentives that used to exist for everyone to work hard. Finally, end the state monopolies in public education to launch a new era of school choice and competition.
I have not ready Murray yet, so I will not issue a judgment. But while I might favor these policy proposals, I think it is unlikely that they represent “a conservative solution to the problem of inequality.” Inequality is an outcome that emerges from many factors. It would be brave to claim to have a solution.