Source: Beat The Press
by Dean Baker
“It is much more acceptable in policy circles to talk about ways to make tax and transfer policy more progressive than ways to structure the market to prevent the distribution of income from being so unequal in the first place. I always harp on this failure, since it seems much easier to keep rich people from getting so rich in the first place than to try to tax away their money once they have it. Unfortunately, there is little place in policy circles for this sort of discussion. … we created at least five Moderna billionaires by allowing the company to have control of a vaccine that the government paid to develop. The proponents of these government-granted monopolies always argue that they provide incentives to innovate and do creative work. That is true, but also not the issue.” (04/17/24)
https://cepr.net/the-market-is-rigged-to-give-all-the-money-to-the-rich-the-case-of-covid-boosters/