Equality and Efficiency, the Big Tradeoff
In this revised and expanded version of the Godkin Lectures presented at the John F. Kennedy School at Harvard University in the early seventies, Arthur M. Okun explores the conflicts that arise when society's desire to reduce inequality impairs economic efficiency, confronting policymakers with " the big tradeoff."
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The Case for the Market
Equality of Income and Opportunity
Increasing Equality in an Efficient Economy
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Ameri American assets average basic benefits billion Brookings Institution bucket capital capitalist chapter citizens collectivized competitive consumer corporate costs deprivation differentials discussion dollars domain of rights earnings economists EDWIN LAWRENCE GODKIN effort egalitarian equality and efficiency equality of income equality of opportunity ethical example fair family income federal financing freedom incentives income and wealth income distribution income tax individual inefficiency inequality of opportunity interest issues John Rawls Karl Polanyi Kermit Gordon leak leakage Lester Thurow Liberty University low-income marketplace ment meritocracy Milton Friedman nomic Okun ownership percent poor poverty poverty line principle prizes problems progressive taxation R. H. Tawney Rawls redistribution reflect reform rich saving and investment social security socialist society standards tax rates Theory of Justice tion tradeoff transfer transgression unequal University vote wages welfare workers