Efficiency, Equality, and the Ownership of Property

ability to earn accrues accumulate property annual tax assortative mating automation big sugar budgetary policies capital accumulation capital equipment capital wealth citizens consumption cost developed disequalizing distribution of income distribution of property earned incomes efficiency equation exceptionally expenditure factor of production factors full employment future gift or bequest gifts inter vivos high earning power higher education important incentives income from property increase individual inequalities inheritance intelligence investment K₁ K₂ labour-intensive land and capital large properties legacy or gift Mauritius measures Michael Young monetary and budgetary national debt national income net national income ownership of property parents population possible principle private property progressive tax property owners property ownership Property-Owning Democracy rate of duty rate of growth rate of profit real property real wage rate reduce relatively rich rise small properties social Table taxation Theodore W total income total personal incomes unearned United Kingdom wage-rate workers