By Guinevere Liberty Nell (eds.)
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Extra info for Basic Income and the Free Market: Austrian Economics and the Potential for Efficient Redistribution
According to their own arguments regarding the greater utility the poor gain, policies that help the poor should be given more weight than those that that help the wealthy when considering how they affect total welfare. This explains why it may seem unjust to prioritize policies that benefit the wealthy instead of ones that benefit the poor, even from a purely utilitarian point of view, and may help to justify a “leximin” rule (Barbera and Jackson, 1988; Tungodden, 2000). 27 First, even if basic needs are always higher than other needs, this does not mean that utility would be maximized if all incomes were equal: some people would value other wants more highly than other people would.
Accessed January 31, 2013. html. Keynes, John Maynard. 1936. The General Theory of Employment, Interest and Money. London: Macmillan. Kirzner, Israel M. 1976. “Philosophical and Ethical Implications of Austrian Economics,” in E. G. ), The Foundations of Modern Austrian Economics. Kansas City: Sheed and Ward. ———. 1988. “Welfare Economics: A Modern Austrian Perspective,” in W. Block and L. H. ), Man, Economy and Liberty, Essays in Honor of Rothbard. Auburn: Ludwig von Mises Institute. ———. 1993.
2000. The Driving Force of the Market: Essays in Austrian Economics. London: Routledge. Knight, Frank H. 1924. “The Limitations of Scientific Method in Economics,” in Ross B. , Selected Essays by Frank Knight, Volume One: What is Truth in Economics? Chicago: University of Chicago Press, 1999. Kornai, Já nos. 1992. The Socialist System: The Political Economy of Communism. Princeton, NJ: Princeton University Press. Kvasnička, Michal. 2008. “Rothbard’s Welfare Theory: A Critique,” New Perspectives on Political Economy 4 (1): 41–52.
Basic Income and the Free Market: Austrian Economics and the Potential for Efficient Redistribution by Guinevere Liberty Nell (eds.)