What Kind of Redistribution Do We Want

Bibliographic Data

ID9726141
AuthorsJames M Buchanan (corresponding author)
Year1968
Volume35
Issue138
Pages185
Publication date1968-05-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueEconomica (JOURNAL)
Journal identifiersISSN: 0013-0427 • E-ISSN: 1468-0335
PublisherJSTOR (PUBLISHER)
DOI10.2307/2552133
OpenAlexW2318578160
LanguageEN
Citations received15

In two recent contributions, Mr. Lucien Foldes has challenged a central proposition in the liberal theory of economic policy, the proposition interference by the government with the distribution of real income should normally be confined to transfers of general purchasing power, leaving the allocation of specific goods to the competitive market.2 I share Foldes' dissatisfaction with the prescribed policy separation between allocation and distribution. My own criticism is a methodological one that carries with it certain empirical implications. Foldes' analysis is technical and is subject to the same methodological objections as the work that he criticizes. Before outlining my own position, however, I shall briefly examine Foldes' two critical arguments. I shall demonstrate that his first argument holds only with respect to a limited sort of redistribution; more general methods, but with transfers still limited to the numeraire good, can be found that will accomplish the objectives specified. With respect to his second argument I shall show that the liberal policy proposition in question can be interpreted so that the difficulties stressed by Foldes will not arise. In these preliminaries, covered in Sections I and II, I shall accept the methodological setting employed by both Foldes and those whom he criticizes

Business · Economics · Political science · Politics · Redistribution (election) · Economic Theory and Institutions · Economic Theory and Policy · Law

Tools

Open DOISci-Hub