Steve Randy Waldman
@interfluidity.com
Whatever you might think of other controversializing, no one one the planet understands and presents more clearly the basic economic mechanisms of social democracy than @mattbruenig.bsky.social. from www.peoplespolicyproject.org/2025/10/26/d... ht @jdcmedlock.bsky.social
Text: Ultimately, I don’t think Lazardi and I even diverge in our understanding of how to deal with inequality. When you look at the basic math involved in these questions, it’s clear what you have to do: 1. Compress the wage scale, such as through unionization and collective bargaining. 2. Redistribute capital’s share, either socially (as in Alaska) or through a higher labor share. 3.Provide income to nonworkers via the welfare state. What often happens in this debate is just that some people have various ideological hang-ups that make them think that (1) and (2) are real hardcore anti-capitalism and (3) is not. And downstream of that, they go about trying to prove that (1) and (2) matter more than (3). But, at least when it comes to overall inequality, this just isn’t true.