Government Failure and Market Failure

Authored by: Michael Munger

The Routledge Handbook of Libertarianism

Print publication date:  August  2017
Online publication date:  August  2017

Print ISBN: 9781138832169
eBook ISBN: 9781315709727
Adobe ISBN:

10.4324/9781317486794.ch24

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Abstract

Collectivist ideals often focus on the just distributions—in relative terms—of fixed endowments of resources. Others, such as Rawls (1971), consider both the relative and absolute levels of primary goods. Under the “difference principle,” less equal distributions of resources might be consonant with success if the main beneficiaries are the least well off. Nonetheless, comparison to an ideal distribution, discounting the historical origins of inequality, is the hallmark of collectivist theories.

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