Strengthening Constitutional Self-Government

No Left Turns

The Market for Equality

Instapundit links to this bit of wisdom:

Robert B. Reich, University of California, Berkeley : "As we’ve come to expect from Sheldon Wolin, a tightly argued and deeply revealing book about the dangers of unconstrained capitalism for our democracy."

And lord knows we can’t have unrestrained capitalism in the United States.

In point of fact, we have not had unrestrained capitalism in the United States for at least a century - as Reich, as a chief constrainer, should damned well know.

But is that quite fair to Reich? We’ll leave aside the question of whether "Capitalism" is the proper term for the market economy. (If I remember my intellectual history right, to call it "capitalism" is to put it into a Marxist framework). It seems to me that one possible explanation for the rise of income inequality, to the degree that it has taken place in the U.S. in the past generation or so, is the Reagan Revolution. Thanks to deregulation, the wealthy and the talented may live in a free market world. The trouble is, the rest of the U.S. has, as of yet, been unable to esaape from the contstraits of the bureaucratic-administrative state. In short, it might be that the best way to decrease income inequality is to reduce the size and scope of government. Somehow, I don’t think that’s what Professor Reich has in mind.

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