The journey to greater equality

ABSTRACT

[...]examining incomes, along with other variables, is also essential. The crucial role of public activity then transcends capitalism, because when such services are provided by public authorities without basing them on commercial principles in anticipation of profits, this effectively creates a mixed economy. In addition to redistribution, he argues that taxes on inheritance can serve the goal of “predistribution” that inhibit too much intergenerational wealth transfer, once again suggesting that highly confiscatory rates of taxation on individuals have had immense historical success. [...]this is precisely why, in addition to the fiscal policies that he puts so much emphasis on, it is necessary to bring in other regulatory measures and changes in legal codes that would impact predistribution nationally and internationally. [...]low-income and middle-income countries (LMICs) today, which cannot achieve what rich countries can through this progressive fiscal strategy alone, necessarily require other elements of a broader strategy.