The Distribution of Gains Revisited

The contents of the preceding chapter were delivered to the American Economic Association late in 1949, some twenty-five years ago. Twenty-five years is a long time for reflection; and, although in the interval I had repeated chances in conference papers, articles and other publications to develop and revise my ideas, perhaps it will not be out of place to set down here some reflections on where and why Singer II (1974) would differ from Singer I (1949). I hope this will not be taken as an unduly schizophrenic exercise.