The late George Stigler an eminent conservative Chicago economist wrote The late George Stigler, an.
The late George Stigler an eminent conservative Chicago economist wrote
The late George Stigler, an eminent conservative Chicago economist, wrote as follows:
No thoroughly egalitarian society has ever been able to construct or maintain an efficient and progressive economic system. It has been universal experience that some system of differential rewards is necessary to stimulate workers. [The Theory of Price, 3d ed. (Macmillan, New York, 1966), p. 19.)
Are these statements positive or normative economics?
Discuss Stigler’s view in light of Alfred Marshall’s quote in question 1. Is there a conflict?
The late George Stigler an eminent conservative Chicago economist wrote