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Kenneth Boulding on the Serious Distortion of Economic Ethics

Tuesday, March 7, 2017 10:11
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From "http://www.nytimes.com/1993/03/20/obituaries/kenneth-boulding-an-economist-philosopher-and-poet-dies-at-83.html"
target="_blank">Kenneth Boulding
, A Reconstruction of
Economics
(NY, Science Editions 1962) pp. 481-82:

“Economic ethics has been seriously distorted by static and
short-run criteria of value. ‘Justice’ has been thought of too much
in terms of division of a fixed pie than in terms of encouraging
the baking of more pies… .The importance of this problem rests on a
matter of simple arithmetic: that if redistribution toward any
group causes a fall in the rate of growth of national income, no
matter how slight, there will be some date beyond which the
absolute income of the favored group will be less than it would
have been if the redistribution had not taken place.”



Source: https://www.cato.org/blog/kenneth-boulding-1962-serious-distortion-economic-ethics

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