Income distribution

["Harry L. Cook" <hlc710@xxxxxxxxxxx>]

With referance to income distribution.   Income distribution is a matter of politics and ideology at least as much as it is economics.  Restricting discussion of economics in general, or income distribution in particular, to economic theory and methodology may make for  intellectually amusing intercourse, but it is about as useful as doing the cross word puzzles. 

 

Income distribution is largely determined by the interplay  of  politics and economics within the framework of our political economy.  Our system may be, and is, a lot better that many other systems, but it can be argued that it has a long way to go to achieve satisfactory standards of fairness and justice.

 

The problem is the system - the framework of political and economic institutions that is our political economy- and unless we understand it, how it works and what makes it like it is, we can't fix it.

 

It seems to me that this is less methodology than plain common sense and common  observation, besides I am suggesting specifically that we pay some attention  what David Ricardo in the opening lines of his Principles of Political Economy said was the principal problem in political economy, namely income distribution.

                               

                                            Harry L. Cook