Senator Elizabeth Warren yesterday proposed a wealth tax. It is a way of dealing with the rising inequality issue that I also discuss in World After Capital. I propose a longer term way of getting to a similar place via demurrage, but I am supportive of a wealth tax. I believe it will have to be broad based though and include all large accumulations of wealth, including in trusts, foundations, endowments and all other pools that don’t have clear existing offsetting obligations (such as pensio...
