Categories

Justice in Distribution

The classical political-economists made distribution of wealth and income the centerpiece of their discipline. This led smoothly, if unintentionally, into the socialist slogan, “The problem is not production, but distribution.” From about 1890, “neoclassical” economists preferred to downplay distribution. Distribution is troublesome, they said, because beliefs about it are often subjective and value—laden (“normative”), and there are numerous conflicting value—systems, hard to reconcile. They should have added, there are powerful interested parties monitoring and subsidizing scholars.

1989, Rev. 1991. Pp. 1-27.

Comments are closed.