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Living Wage and Optimal Inequality in a Sarkarian Framework

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  • Mark Friedman

Abstract

Principles from the social thought of the Indian philosopher P.R. Sarkar are employed to show that there exists an optimal level of economic inequality that joins the values of economic justice and efficiency. Sarkar favored establishing a living wage as well as a maximum wage that allows for work incentives. It is argued that the primary justification for inequality is to provide incentives for individual productivity, and that the value of those incentives should not exceed the economic contributions they produce. To determine the relative importance of income incentives in motivating individual economic contributions, it is found necessary to develop a multifaceted model of human productivity. Such a model is developed using concepts from humanistic psychology. A Sarkarian individual productivity curve is introduced in diagrammatic analysis to demonstrate the existence of an optimal level of inequality, and also to explain the persistence of extreme income inequality.

Suggested Citation

  • Mark Friedman, 2008. "Living Wage and Optimal Inequality in a Sarkarian Framework," Review of Social Economy, Taylor & Francis Journals, vol. 66(1), pages 93-111.
    • Handle: RePEc:taf:rsocec:v:66:y:2008:i:1:p:93-111
    DOI: 10.1080/00346760701668479
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    Cited by:

    1. Mario Coccia & Igor Benati, 2017. "What is the relation between public manager compensation and government effectiveness? An explorative analysis with public management implications," quaderni IRCrES 201701, CNR-IRCrES Research Institute on Sustainable Economic Growth - Moncalieri (TO) ITALY - former Institute for Economic Research on Firms and Growth - Torino (TO) ITALY.
    2. Igor Benati & Mario Coccia, 2017. "The relation between public manager compensation and members of parliament’s salary across OECD countries: explorative analysis and possible determinants with public policy implications," quaderni IRCrES 201702, CNR-IRCrES Research Institute on Sustainable Economic Growth - Moncalieri (TO) ITALY - former Institute for Economic Research on Firms and Growth - Torino (TO) ITALY.
    3. repec:eee:jebusi:v:67:y:2013:i:c:p:67-76 is not listed on IDEAS
    4. François, Martin & Mertens de Wilmars, Sybille & Maréchal, Kevin, 2023. "Unlocking the potential of income and wealth caps in post-growth transformation: A framework for improving policy design," Ecological Economics, Elsevier, vol. 208(C).

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