The Debt Dialogues is a weekly podcast that aims to educate young people about the welfare state and how it will affect their future. In this episode, I interview Cato senior fellow Jagadeesh Gokhale on America’s entitlement-fueled debt problem.
In Free Market Fairness, Brown University political science professor John Tomasi seeks to defend free markets on a Rawlsian “social justice” foundation. In laying the groundwork for his argument, Tomasi thinks it is notable that even most free-market thinkers appeal to “social justice” concerns, i.e., that they almost all — from Adam Smith to Herbert Spencer to Milton Friedman — stress that free markets are good for “the poor.”
From Robert Nozick’s Anarchy, State, and Utopia: Often people who do not wish to bear risks feel entitlement to rewards from those who do win; yet these same people do not feel obligated to help out by sharing the losses of those who bear risks and lose. [p. 257] This made me think of the people who argue that Walmart has an obligation to pay its workers more rather than allow the profits to go to the owners.
Here’s how welfare state crusader Dean Baker starts his latest column: The very rich don’t think very highly of the rest of us. This fact is driven home to us through fluke events, like the taping of Mitt Romney’s famous 47 percent comment, in which he trashed the people who rely on Social Security, Medicare, and other forms of government benefits.
I’ve entered Think Freely Media’s 2014 Great Communicators Tournament, which asks entrants to make moral argument for freedom. I hope you’ll take a moment to vote for my entry, and to share it with your friends. You can vote once a day, every day, until September 2.
The Debt Dialogues is a weekly podcast that aims to educate young people about the welfare state and how it will affect their future. In this episode, I interview Manhattan Institute fellow Scott Winship on economic inequality, mobility, and the American Dream.
George Will: “This is the progressive premise in action: Because government provides infrastructure (roads, etc.) affecting everyone, and because government-dispensed money flows everywhere, everything is beholden to the government, and more or less belongs to the government, and should be subordinated to its preferences, which always are for more control of the nation’s wealth.” I’ve made this point in regard to the welfare state. The recipients of government handouts are inevitably told they have no right to assert their right to make independent decisions: they are “beholden to the government.”
This month marks the 79th anniversary of Social Security and the program’s finances are in disarray. The numbers are jarring. Social Security faces $23.1 trillion in unfunded liabilities, according to the program’s trustees, and if nothing changes, by 2033, payments will have to be cut by almost a quarter. The longer we wait to act, the more circumscribed our options will be.
The moral foundation of the welfare state is altruism: the doctrine that we have a duty to sacrifice for the needs of others. (See my interviews with Onkar Ghate and Peter Schwartz.) If you want to get a real sense of the meaning of this doctrine and its implications for human life, the best source is Ayn Rand. But Rand is often accused of caricaturing altruism.
The S&P recently came out with a report on how inequality is allegedly dampening economic growth. If you’re following the debate over Thomas Piketty’s book Capital in the Twenty-First Century, don’t miss this analysis from the Tax Foundation or this article from Don Boudreaux.
