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Michael Green: 1950s tax code redistributed luck and boosted aggregate outcomes

Michael Green: 1950s tax code redistributed luck and boosted aggregate outcomes
1950s tax policy and economic luck

Michael Green comments on the unequal distribution of expected value, which he says often ends up in the hands of a small number of individuals who attribute their gains to skill rather than luck.

He argues that the 1950s U.S. tax code was designed to recycle economic 'luck' by redistributing it, resulting in both a fairer outcome and increased aggregate results.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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