Tuesday, 8 April 2014

Quote on the Day, 1: On Income Distribution

“With regards to income distribution, Von Mises made the case that it
is a flawed concept. We do not produce something and then distribute
the income generated by it. The distribution of that income is already
decided, agreed and precedes production. And that product gets made
precisely because of and not in spite of, that agreed income distribution.”

- Martin Sibileau, from his post “What Is Economic Growth? (And Why Don't We Have Any)

2 comments:

  1. Or it does not get made -- if the income distribution seems unfavourable. A profound & powerful insight - quite obvious when you think about it, duh.

    ReplyDelete
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