Tuesday, April 18, 2006

Interview with Ken Rogoff

My colleague Ken Rogoff gives an interview with the German publication Spiegel.

According to the inset, Rogoff "describes himself as a 'Schwarzenegger Republican.'" I am not quite sure what that means. Two quotations from the interview may give a clue:

This unbridled capitalism in the United States can't be sustained socially. It leads to tensions. If we experience another five years like the last five, we will start seeing greater social friction....

I can't understand why we should get rid of the inheritance tax. It hasn't harmed the economy, and it has evened out the distribution of income across generations.

For my view on the estate tax, follow this link.