Myerson's reforms are: guaranteed work for everyone; a taxpayer-subsidized "universal basic income" combined with a job guarantee; taking back land from private owners; "make everything owned by everybody," which would see government buy up assets from private holders; and establish public government-run banks in every state.
Myerson discussed his ideas Tuesday afternoon on CNBC's "Closing Bell."
While the proposals may sound unique in some sense, UCLA professor Stephen Bainbridge said they've been tried—unsuccessfully—before: "It was called the Soviet Union."
"The bottom line is that Myerson is recycling (without attribution to their originators) tired old ideas that have been advanced by socialist utopians since the middle of the 19th Century. Look around," Bainbridge wrote in his Professor Bainbridge blog. "Where are these socialist utopias?"
Conservative pundit Jonah Goldberg found the essay and its aftermath amusing.