I think it's noteworthy as it gives conservative/libertarian arguments against the current wealth concentration, instead of just liberal.
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Here is a Teles article on it as well:http://www.nationalaffairs.com/publications/detail/the-scourge-of-upward-redistribution …
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Isn't this the same guy that wrote The Conservative Nanny State book? I've seen people recommend that book quite a bit as well.
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Interesting paper. I like it, but wow... Can't imagine getting there from here...
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