Lecture 24 April 24

Lecture 24 April 24 - Inequality and American Democracy...

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Inequality and American Democracy Lecture 24 April 24, 2007 Time for a New Social Contract? 1) Elements of the Ownership Society Vision a) Personal responsibility/choice b) Pragmatic route to weaning public from dependence on government: not no government; government that supports, even mandates, private ownership c) Hypothesized political effects: i) Owners=Republicans ii) Owners=Against Government Benefits 2) Do “Owners” Vote Republican? a) Nearly all existing data/studies of which there are few don’t use controls b) Historical problem: Republican party ID has not increased much during period of increased stock ownership. Does not answer question of whether center of gravity of the parties has shifted 3) The Benefits of an Ownership Societies a) We are the best judge of what’s good for us b) Encourages competition/efficiency c) Reinforces self-reliance/personal dignity d) Economy in government e) Freedom to pass money onto heirs 4) Moral Hazard a) If you give people more support they will take advantage of it
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Lecture 24 April 24 - Inequality and American Democracy...

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