![]() ![]() ![]() To me it is obvious that you should prefer the structure of rewards that attracts the harder-working, more ambitious people. Now, on which basis do you wish to select people arriving into your country? Do you wish to offer them a lower-risk, more secure, more egalitarian, less upside option? Or do you want to reward ambition to a disproportionate degree? Don’t forget you are building up the home base for most of the world’s TFP! And the right people can be very hard to find and attract, as I think Matt also has noted. That is, you need to get the right people into your firm, start-up, media venture, non-profit, or whatever. If you ever have done hiring, and I believe Matt has at Vox, you will understand that so, so often selection is more important than ex post incentives. To be clear, I also favor a much larger population. I never understand how this squares with this desire to reach one billion Americans in the not too distant future. Matt recently wrote a (gated) piece arguing that we should raise American taxes and increase the American welfare state. ![]()
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