I missed that Jonathan had already talked about the Hagopian and Ohanian inequality article I discussed yesterday in my Cochrane post.
These are his original thoughts, and this is his post from yesterday.
The Hagopian and Ohanian article focuses on the old equality of opportunity vs. equality of outcome distinction. That's a little strange because that's really my concern with inequality: an inequality of opportunity. The problem is inequality of outcomes are often the result of inequalities of opportunities, and they intergenerationally transmit unequal opportunities. I've noted this entanglement of outcomes and opportunities in the past.
So my concern is that while Hagopian and Ohanian profess a concern for equality of opportunities they're really not addressing it seriously, and not offering any new information that would lead us to doubt the problem of inequality.
Friday, August 17, 2012
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Daniel
ReplyDeleteGet serious. Jonathan is clueless. The guy doesn't understand that all profits are phantom and that most of Hayek, Mises, etc. is just fiction.
For example, on phantom profits, are the profits made by corn growers phantom? Why not? After all, they come, if at all, only when like of rain and drought don't cause you to loose your crop.