I’ve been reflecting on the economic arguments made this election cycle and find myself dissatisfied with a lot of thinking on both the left and the right.
Many people buy into a way of thinking that is essentially materialist and anti-human: that people are at base value creating mechanisms and the market correctly assigns them money according to their work and value. This leads to false thinking on both the right and the left. On the right, the state is demonized and the market is seen as almost magic. On the left the rich are demonized and the the role of the state is seen as equalizing outcomes. Both views are wrong.
Turning first to the pro-market side, many believe that taxation and efforts to expand opportunity are wrong because they “confiscate” money from those who have “earned it.” Earning it is defined by being able…
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