Participation and Income Distribution
Whatever kind of system — socialist, communist, capitalist or lilliputian — we care to choose, money and prices will continue to exist and the implied ‘natural’ income distribution under each and every one would be the same.
Even if some ‘just’ distribution of income could be agreed (which it could not) this would not match the ‘natural’ distribution and would accordingly be impossible to implement in the long run without full-scale direction of labour including circulation by some central authority to individuals of hour-to-hour instructions on how to act, reaching down to the minutest details of economic life.
KeywordsIncome Distribution Controlling Factor Demand Curve Cost Curve Unskilled Labour
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