The Ultimate Problem With Libertarian Populism

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Bruenig responds to some recent books and movements towards what he roughly categorizes as "libertarian populism." What these movements have in common is a belief that rigged capitalism is causing rent-seeking and that unrigging capitalism to eliminate this rent-seeking is a good idea. The post argues that eliminating some of this rent-seeking may be a positive thing, but that the fundamental problems with our economy are not driven by improper factor payments inflating the incomes of the rich (i.e. rents). Even proper factor payments made under an unrigged capitalism would still generate huge and unacceptable inequalities.