Agathotopia: The Economics of Partnership
Economists have long debated whether or not a capitalist system is compatible with an acceptable distribution of income and with harmony of interests between workers and capitalists. At one extreme have been hard-line Marxists who have claimed that nothing short of state capital ownership will fulfil these aims, whereas, at the other extreme, ‘Austrian’ economists have maintained that a competitive capitalist system will achieve these objectives but only if it is free from government intervention. At a rough guess it could reasonably be claimed that most western economists of repute would maintain an intermediate position with the distribution of their views along the political spectrum somewhat biased towards support for a free market economy of capitalist profit-making enterprises but one in which the government had a significant part to play in influencing income distribution and in regulating conditions of work.
KeywordsCapital Asset Capitalist Company Partnership Economy Marginal Revenue Product Distributable Surplus
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- 6.See Theodor Hertzka, Freeland, A Social Anticipation (Chatto & Windus, London, 1891).Google Scholar