The ‘Non Sequitur’ of the ‘Dependence Effect’

“The ‘Non Sequitur’ of the ‘Dependence Effect’.” The Southern Economic Journal 27 (April 1961).


“For well over a hundred years the critics of the free enterprise system have resorted to the argument that if production were only organized rationally, there would be no economic problem. Rather than face the problem which scarcity creates, socialist reformers have tended to deny that scarcity ever existed. Ever since the Saint-Simonians their contention has been that the problem of production has been solved and only the problem of distribution remains. However absurd this contention must appear to us risk with respect to the time when it was first advanced, it still has some persuasive power when repeated with reference to the present.”

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