Since context is helpful to deepen a discussion, I’d like to share a few “dots” (impactful content or life experiences that shape one’s philosophy) behind this post:
1. The book Sacred Economics by Charles Eisenstein (post here https://medium.com/aint-nobody-got-time-for-that/sacred-economics-8a38f1603b86) has been most influential in my broad economic/financial philosophy. For example, one may disagree on whether the key issue is lack of circulation and a buildup of inequality, as I argue here and is discussed in Sacred Economics, or wasteful/socially sub-optimal spending, such as argued here https://papers.ssrn.com/sol3/papers.cfm?abstract_id=246407, in which the author proposes no estate tax and a progressive consumption tax.
2. Inequality: What Can Be Done by Tony Atkinson is another dot in my understanding about the need to address equity/extreme inequality, and the estate tax as a means to do so.
3. To those who may agree with the issue but recoil at the idea of increasing government’s role in society - I hope you will spend some of your career in the public sector. And I wish more civil servants would get some experience in the private sector. A major dot is my brief working life is the comparison between these two experiences. In the private sector, I admire some beautifully run organizations with minimal bureaucracy or politics (the first I worked at, Epic, is a prime example of this), but in the public sector, I marvel at the actual work the people do. We could never rely on private companies to so relentlessly pursue things like safety or access/equity, whether we’re talking about mobility and infrastructure, natural resources, etc. Perhaps more realistically, The Fifth Risk is an excellent book on this subject.