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Unformatted text preview: Is it fair that some are rich because they are born with talent? The market will allocate to individuals in a fair and efficient way only if the distribution of income is fair. Do they deserve $40 million/year? As much as 20,000 poor families? Should they have something to eat? Fair and Efficient Is it fair that Forest Edward Mars Jr. inherited $10 billion? Does it promote efficiency ? Does this type of distribution of income encourage productive work, and does it provide for the development of human capital? Some are rich because they establish monopolies through work or luck...
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This note was uploaded on 04/04/2012 for the course ECON 103 taught by Professor Voorheis during the Fall '08 term at UMass (Amherst).
- Fall '08