Steven M. Teles is professor of political science at the Johns Hopkins University and a senior fellow at the Niskanen Center. His books include The Captured Economy, Prison Break, The Rise of the Conservative Legal Movement, and Whose Welfare: AFDC and Elite Politics.
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For years, America has been plagued by slow economic growth and increasing inequality. Yet economists have long taught that there is a tradeoff between equity and efficiency—that is, between making a bigger pie and dividing it more fairly. That is w... SEE MORE