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Economics of inequality

By: Material type: TextTextPublication details: London; Oxford University Press; 1976Description: 295 pISBN:
  • 198770766
Subject(s): DDC classification:
  • 339.46 ATK
Summary: The two greatest ends of economic inquiry seem to me to be the furnishing of general answers to the two questions, first, why whole communities are rich or poor, and, secondly, why inside each community some individuals and families are above, and others below the average in wealth... Economists sometimes vaguely wonder why economic theory is so unpopular... Is there anything in this to excite surprise, if we reflect for a moment on the inadequacy of the answer furnished by the theory of distribution, as at present taught, to the questions in which the ordinary person is interested?
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The two greatest ends of economic inquiry seem to me to be the furnishing of general answers to the two questions, first, why whole communities are rich or poor, and, secondly, why inside each community some individuals and families are above, and others below the average in wealth... Economists sometimes vaguely wonder why economic theory is so unpopular... Is there anything in this to excite surprise, if we reflect for a moment on the inadequacy of the answer furnished by the theory of distribution, as at present taught, to the questions in which the ordinary person is interested?

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