i'm a big optimist about democracy. I think the problem we have is we don't have enough of it. Part of this problem, now we're going to the next layer, we haven't reached our point of agreement. The argument is that government regulation, often driven by a complex of vote getting incentives, puts constraints and creates guard rails,. That that helps the process. And i think the best example of that, actually, is the nordic model. Anybody who goes and studies it will see the lots of things wrong with the mordic models. There were inefficiencies, but it's also remarkable how well many aspects of the system worked.
Economist and author Daron Acemoglu of MIT discusses with EconTalk host Russ Roberts the challenge of shared prosperity and the policies that could bring about a more inclusive economy. Acemoglu argues for the importance of good jobs over redistribution and makes the case for the policies that could lead to jobs and opportunities across skill levels.