Listen to this silliness from Alan Blinder, Princeton Economics professor and vice chairman of the US Federal Reserve, 1994-96.
Authored by Mike Shedlock: Blinder wants to raise the minimum wage, encourage unions and fight monopsony by handing out a “predistribution” of free money and by making the government the buyer of last resort.
Please consider Alan Blinder’s WSJ op-ed, Shore Up the Social Safety Net With ‘Predistribution’
For nearly a century, we have relied on a suite of programs known as the social safety net. The idea is straightforward: Let the market determine the rewards to capital and labor, and to high- and low-wage earners, but then allow the government to redistribute money through progressive taxation, Social Security, unemployment benefits, and other transfer payments to the needy.



