The three authors make the case that the interconnected world economy has reached what they call an “asymmetric equilibrium” in which the United States “adopts a ‘cutthroat’ reward structure, with high-powered incentives for success, while other countries free-ride on this frontier economy and choose a more egalitarian, ‘cuddly,’ reward structure.” Directly challenging what they describe as the consensus view – that a country can substantially expand the welfare state without sacrificing its pioneering role in technological innovation – Acemoglu and his colleagues write that it is “the more ‘cutthroat’ American society that makes possible the more ‘cuddly’ Scandinavian societies based on a comprehensive social safety net, the welfare state and more limited inequality.” opinionator.blogs.nytimes/2013/05/29/why-cant-america-be-sweden/?ref=opinion
Posted on: Mon, 17 Jun 2013 16:23:06 +0000
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