Figures xi
Tables xiii
Introduction xv
Part I Economic Efficiency and the Role of Government
1. Income Equality: The Earliest Standard of Efficiency 5
2. Equality Does Not Matter: Pareto Efficiency and the Free Market 15
3. The Pareto Efficiency Cops 35
4. Why Redistributing Goods May Be Pareto Efficient After All 47
5. A Brief History of the Federal Income Tax 55
6. It Is Not Pareto Efficient: The Rich Pay Too Much Taxes (Or, Laffer's Napkin) 59
7. Private Goods 71
8. Government-Supplied Goods 91
Part II Theories of Wages
9. The Classical Theory of Wages 117
10. The Neo-classical Theory of Wages: John Bates Clark 133
11. The Evidence 143
12. The Minimum Wage 151
13. Theories of Wages and the Great Depression 157
14. Sticky Wages 169
15. Efficiency Wages or: Why Unemployment Is the Fault of Shirking by Workers 177
16. Executive Compensation 185
Afterword 193
Acknowledgments 197
Notes 199