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Jerry Muller on Capitalism and Inequality- preserving economic dynamism and maintaining protections for the middle class and the poor
04/15/2009
Muller points out that the family really matters and belonging to particular social, immigrant, ethnic and religious groups also makes a difference. Muller says having a clear eyed view shows protections are necessary for capitalism to work, yet also points out that in advanced capitalist societies muc of the framework for the protections such as unemployment insurance, Medicare, Medicaid, Social Security, Earned Income Credit, Affordable Care Act, are already in place. Individual societies and countries have to come up with their own solutions for economic protections. At the same time economic dynamism is critical part of vibrant democracy and capitalism. This requires human capital to be deployed in the best way possible. For individual countries this means increasing and preserving competitiveness in the global marketplace.
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