Difference between revisions of "Lerner's theorem"
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(New page: Lerner's theorem is a liberal economic proposition stating that because the marginal utility of money for each individual is unknown, society maximizes probable overall utility by ...) |
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This was proposed by [[Abba P. Lerner]], an American economist who developed this proposition in 1944. | This was proposed by [[Abba P. Lerner]], an American economist who developed this proposition in 1944. | ||
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Revision as of 08:23, April 27, 2007
Lerner's theorem is a liberal economic proposition stating that because the marginal utility of money for each individual is unknown, society maximizes probable overall utility by seeking an equal distribution of income.
This was proposed by Abba P. Lerner, an American economist who developed this proposition in 1944.