Grasping Reality on TypePad, by Brad DeLong

For a management guy, Drucker is pretty clear that 1) No single person produces an automobile 2) There is no uniquely fair way to distribute the gains from producing automobiles 3) The right division of the gains from producing an automobile ought to include sufficient income to sustain a household for all those involved in production and 4) beyond sufficient income, the non-economic aspects of the employment relationship are as important as incremental income. 1950.