Debunking the Science That Makes Life Dismal
Description: xix, 217 pages : illustrations ; 19 cm
Contents: Income equality : the earliest standard of efficiency -- Equality does not matter : Pareto efficiency and the free market -- The Pareto efficiency cops -- Why redistributing goods may be Pareto efficient after all -- A brief history of the federal incometax -- It is not Pareto efficient : the rich pay too much taxes (or, Laffer's napkin) -- Private goods -- Government-supplied goods -- The classical theory of wages -- The neo-classical theory of wages : John Bates Clark -- The evidence -- The minimum wage -- Theories of wages and the Great Depression -- "Sticky wages " -- "Efficiency wages", or, Why unemployment is the fault of shirking by workers -- Executive compensation.
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Includes bibliographical references.