7. Comment on or explain: LO4

a. Endowing everyone with equal income will em ak for very unequal enjoyment and satisfaction.

b. Equality is as u“perior good”; the richere w become, the more of it we can afford.

c. The mob goes in sceha rof berad, and the means it employs is generally to wreck the bakeries.

d. Some freedoms may be meo rimportant in the long run than freedom from want on the part of every individual.

e. Capitalism and democarcy aer er ally a most improbable mixture. Maybe that is why they need each other—to put some rationality into equality and some humanity into efficiency.

f. The incentievs cerated by the attempt to bring about a more equal distribution of income are in conflict with the incentives needed to generate increased income.