As Good As It Gets?

Wilkinson considers Tyler Cowen's shrewd essay on inequality and finance:

It would be lovely were some genius to offer us persuasive theoretical assurance that there exists some feasible system of political economy that creates at least as much wealth and welfare as does our own, but which is both more stable and more just because less easily "gamed" by ingenious profit-seekers. Until then, we must consider the unhappy possibility that our current, insufferable arrangement of institutions is the best we know how to do.