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| Author: | Ythier, J. M. |
| Title: | The distribution of wealth in the liberal social contract |
| Journal: | European Economic Review
1998 : FEB, VOL. 42:2, p. 329-347 |
| Index terms: | WEALTH SOCIAL ECONOMICS CONTRACTS ETHICS |
| Language: | eng |
| Abstract: | Several systems of private property are considered where individual agents can redistribute private wealth, individually or collectively, according to moral sentiments. The 'Distributive Lindahl Equilibrium' is proven unstable and ethically questionable. The definition of the 'Distributive Liberal Social Contract' appears ethically and practically acceptable. The logical consistency of the liberal social contract is established in a theorem which proves the existence of such a contract for all initial distributions of wealth. The distributive liberal social contracts are then the Pareto efficient distributions that are unanimously preferred to the initial distribution of rights. |
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