The redistribution games

No feasible wealth tax can reduce substantially the current levels of crushing inequality.

The Olympic 100-metre final is about to start. The crowd roars at the sound of the starting gun. The sprinters are off. But, after 30 metres, the frontrunners slow down, as if in solidarity with the laggards. They have not chosen to do so, but new rules set strict limits on the maximum distance separating the winner from the last-place finisher.