"While society bans exchanges in many social and political areas, it protects options to trade and to
earn and to spend money in the marketplace. It establishes the rights of citizens to acquire income
by the services of their labour and capital and to dispose of income by buying goods and services from
others. By some standards, these rights in the market-place represent universal and equal rights to earn
unequal incomes. Moreover, the rights of citizens to pick their jobs and to select the items for their market
baskets, at least out of some reasonable menu of options, are essential elements of personal freedom."
Arthur Okun (1975).
Get full access to this article
View all access options for this article.
References
1.
Ehrenberg, R. and Smith, S—Modern Labor Economics—Theory and Public Policy, Scott, Foresman and Company: Illinois ( 1982) P.29.
2.
Herzberg, F.— Work and the Nature of Man, The World Publishing Company : Cleveland (1971) P.38.
3.
Okun, A.— Equality and Efficiency: The Big Trade-off, The Brookings Institution: Washington (1975) P.35.
4.
Rydges/IBIB Deloitte Haskins & Sells—Getting the Best for What You Pay, Sydney Rydges Publications, (Nov 1984) P125-136.
5.
Samuel, P.— Life Without an Arbitration Committee, Institute ofPublic Affairs Review (1984) P146-151.
