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Democratic Justice and the Social Contract$
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Albert Weale

Print publication date: 2013

Print ISBN-13: 9780199684649

Published to Oxford Scholarship Online: September 2013

DOI: 10.1093/acprof:oso/9780199684649.001.0001

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Just returns in the great society

Just returns in the great society

Chapter:
(p.190) (p.191) Chapter 7 Just returns in the great society
Source:
Democratic Justice and the Social Contract
Author(s):

Albert Weale

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199684649.003.0007

The full fruits of labour principle cannot be given literal force in the great society. Its equivalent is that producers should receive the value of their marginal product. Where returns to labour in the hierarchy of firms depart from the principle of marginal productivity, this highlights the justice of the marginal productivity principle. There is no argument from economies of scale creating the value of marginal product to the justice of redistribution among producers. Rather all producers should contribute to the maintenance of common overheads. Claims of need are to be understood as reasons for ensuring that redistribution across the life-cycle takes place. With the change in the role of the household in the great transformation, family economic responsibilities may be socialized. Capital ownership needs to be equalized in line with one interpretation of the property-owning democracy

Keywords:   full fruits of labour, marginal productivity, redistribution, markets and hierarchies, economies of scale, needs, family responsibilities, capital physical and human

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