I rather liked this line:
"The statist intellectual imagines redistributing capital profits while leaving owners with the losses, but the opposite--profits for owners and managers, losses for taxpayers--has been frequently observed in the wild."
It is a very interesting article. He makes a pretty interesting case.
I would really like to see some details on how we would go about capitalizing the masses. There was talk of a "stockholders Republic" back in 50s, and that didn't really pan out.
I would be very interested in a long form essay version or policy paper version of his take.
DeMuth references both President Bush's call for ownership in Social Security accounts and the 100x more radical Chilean model. I don't know that there is no model so much as no will: W was going to let people keep a microscopic part of their SS withholding and we were promised Armageddon.
I'm in -- if he writes more, I'll read it. But I think there is a more fundamental question of whether we seek to let labor share in the benefits of capital or do we empower the government to redistribute those gains.
Who doesn't remember the term "ownership society." That is the alternative to the redistributionist welfare-state dystopia to which Democrats, Progressives and other leftists tell us we should all "aspire." But the message seems to have been forgotten, or at least is no longer forcefully advocated.
Step 1: Teach small children how to win at Monopoly.