Efficiency, Equality and the Ownership of Property.

Abstract

This chapter is based on lectures given to students of the University and of the Business School in Stockholm in May 1964. I would like to thank these two institutions for the invitation to lecture and the British Council and the Council of Europe for making my visit possible. I would like also to thank the editor of the Economic Journal for permission to incorporate certain passages from my article ‘Mauritius: A Case Study in Malthusian Economics’ published in the Economic Journal, September 1961. The arguments in section V of this chapter have been much influenced by a thesis (alas, still unpublished) by Mr D. G. Champernowne on the causes of economic inequalities. I am also much indebted to my wife for suggesting a number of improvements in my exposition.

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