Simon Johnson & Senator Warren's Tragedy of the Commons

Here's a letter to Project Syndicate: Simon Johnson praises Sen. Elizabeth Warren's proposed legislation, which is titled Accountable Capitalism Act (Saving Capitalism from Economics 101, August 31). Alas, despite Sen. Warren's intentions, passage of her bill – by giving non-owners of capital a legally enforceable say in how capital is used – would dramatically weaken, […]