The exigencies of an economy based on the notion of economic egalitarianism were discussed in pp. 5.2:70-5 and need only be reviewed briefly here. As was noted in the earlier discussion, the notion of "economic equality" cannot even be defined objectively. In a system based on "economic equality," production of both consumers' and capital goods is sharply curtailed as individual workers seek to minimize the disutility of their labor. The decreased production of capital goods eventually depletes the capital structure, further diminishing the long-run output of consumers' goods. The resulting extreme scarcity of consumers' goods, unless it can somehow be remedied, generates widespread discontent, threatening the political stability of the system. To view these trends on the graph at the bottom of this page, scroll down as needed.     Next page
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