Word: redistributionism
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Dates: during 1990-1999
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Opponents have dubbed Florio "Robin Hood" for his overt redistribution of the tax burden, but the Governor is unapologetic. "Something historically significant is happening here," he boasted after his legislative victories. "This is a day we bring fairness to the children of New Jersey and to the beleaguered and besieged...
Conservatives disapprove of state actions to ensure distributive equity because they believe in the universal truth of the "efficiency-equity tradeoff." In the words of Baker Professor of Economics Martin S. Feldstein '61, any attempt to redistribute the pie results in a smaller pie. Welfare creates perverse incentives not to...
To regain public confidence in the wake of the abortive coup, Aquino last week sacked nine of 19 Cabinet ministers in the third such shake-up of her presidency. The Cabinet changes, acknowledged press secretary Adolfo Azcuna, were prompted "by the same reasons, perhaps, that precipitated the coup." None of...
Glick complains that the problem set creates an unfair dilemma, since it assumes that income redistribution entails enormous social costs. He asks us to imagine instead that slicing the pie more equally won't shrink it at all, allowing him to hand the citizens of the Rawlsian economy a hefty...
The problem set's figures are exaggerated, of course, but Glick's alternative seems to miss the point completely. In an economic system where redistribution was easy and painless, it would be a straightforward matter to forbid any inequality whatsoever. It's precisely because redistribution does require trade-offs that...