>And so long as the pie is growing, it is always possible, in principle, to allocate the gains in a Pareto-efficient manner (that is, in a manner in which everybody gains) through the political process. Therefore many economists consider the "distributional" question, concern about who gets what, to be of secondary importance to their field.
Somehow I think economists will weigh in on this question if we phrase it as it really is: capitalism versus feudalism versus socialism.
Somehow I think economists will weigh in on this question if we phrase it as it really is: capitalism versus feudalism versus socialism.