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Agathotopia: The Economics of Partnership

In: Liberty, Equality and Efficiency

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  • J. E. Meade

    (University of Cambridge)

Abstract

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.

Suggested Citation

  • J. E. Meade, 1993. "Agathotopia: The Economics of Partnership," Palgrave Macmillan Books, in: Liberty, Equality and Efficiency, chapter 4, pages 100-188, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-13084-9_4
    DOI: 10.1007/978-1-349-13084-9_4
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