Economics 10a Lecture Notes - Lecture 5: George Reisman, Leaky Bucket, Robert Nozick
21 Mar 2016
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Joe the plumber: obama: it"s good to spread the wealth around, larry summers: you would have to do a ridiculous amount to get back to the levels of income inequality in the 1970s. Income shares in the top 1 percent (,000 a year) roughly 10% of total income from. 1953 to 1978, has since risen to 20-25% Income shares in the top 0. 01% (,000,000 a year) roughly 1% of total income from. Superstars certain professions lend themselves to superstars (no superstar plumber, there is a superstar comedian) Jeremy bentham (1748-1832: goal of public policy is to maximize total pleasure (utility) o. The less talented: why we can"t get the utilitarian ideal, high ability people would feign being low ability o. That is, how distortionary are the effects of the taxation: questions of utilitarianism o. Is utility interpersonally comparable: what about differences in tastes? o o.
