ASPEN, COLO. — There is a structural flaw in modern capitalism. Tremendous income gains are going to those in the top 20 percent, but prospects are diminishing for those in the middle and working classes. This gigantic trend widens inequality, exacerbates social segmentation, fuels distrust and led to Donald Trump.
Conservative intellectuals were slow to understanding the seriousness of this structural problem, but over the past few years they have begun to grapple with the consequences. Basically, many conservative intellectuals have come to terms with income redistribution.
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