The Fall of the House of Efficiency

Edward J. Nell

The ANNALS of the American Academy of Political and Social Science, 1973, vol. 409, issue 1, 102-111

Abstract: Under competitive conditions, in capitalist and market-socialist societies, income is said to be paid in approxi mate proportion to productive contributions. This doctrine is the rock upon which the House of Efficiency is built. The geology implicit in the reswitching controversy suggests that this rock is sedimentary, indeed, loosely packed sandstone. As the rock crumbles in the harsh Cambridge weather, it re veals the outline of the real forces determining the distribution of income.

Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:sae:anname:v:409:y:1973:i:1:p:102-111

DOI: 10.1177/000271627340900111

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