The issue of income inequality was neglected in the recent economic literature until perhaps the last two decades or so. The reason for this neglect may stem from the deterministic and mechanical way the issue has been treated in the works of the neoclassical economists. However, the classical economists whom many consider predecessors of neoclassicism represent a contrast. This is particularly evident in the works of Adam Smith, John Stuart Mill, and Jeremy Bentham. Their writings reflect on one hand their belief that their ideal economic system would be more egalitarian and more fair than the existing system and on the other, that they were concerned about the income inequality which inevitably would result from their recommended system of laissez-faire. Smith expressed his concern for giving "the business aspect of life" a priority, i.e. that it might be in conflict with what might be called "the virtuous aspect of life". And Mill, carrying on the tradition of his predecessors, but confronted with considerable pressures appearing against the system, uneasily put his theories to test against those which promised a more humane society than the system of private property was able to offer during his days. / Their concern, however, does not imply serious redistributional measures. Smith's conclusion was, that any inequalities, either in income or in property ownership which were the result of competitive market processes, were just. Mill's final, and rather limited, redistributional recommendations were in accordance with the view that the business aspect and economic growth was to have a priority, although he explicitly stated that some income equalization was to be desired. Jeremy Bentham, who was more briefly discussed, advocated inheritance taxes, a redistributional measure which would not compromise "security", a criterion he accorded higher priority than equality. / Source: Dissertation Abstracts International, Volume: 45-06, Section: A, page: 1829. / Thesis (Ph.D.)--The Florida State University, 1984.
| Identifer | oai:union.ndltd.org:fsu.edu/oai:fsu.digital.flvc.org:fsu_75337 |
| Contributors | GEIRSSON, FINNUR., Florida State University |
| Source Sets | Florida State University |
| Detected Language | English |
| Type | Text |
| Format | 134 p. |
| Rights | On campus use only. |
| Relation | Dissertation Abstracts International |
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