One Way of Expressing the Tradeoff Between Income Equality and Efficiency

question 48

Short Answer

One way of expressing the tradeoff between income equality and efficiency is to say the more equally the pie is divided, the .

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Definitions:

Instrumental Values

Values that are considered as a means to an end, guiding how we achieve our desired goals, such as honesty, ambition, and responsibility.

Logic

A systematic method of reasoning that allows for the assessment and construction of valid arguments and the distinction between sound and unsound reasoning.

Independence

The state or condition of being self-reliant and not influenced or controlled by others.

Instrumental Value

The value assigned to something based on its utility or means to achieve an end, rather than its intrinsic worth.