For no one can demonstrate an intelligible or morally justifiable relation between work performed and income received — not since outputs started increasing without any measurable increase of inputs, around 1910.

Down on Wall Street they make millions for pushing bad paper, and over on Main Street, they make the minimum wage for doing an honest day’s work. Twenty-five percent of the gainfully employed don’t make enough to push them over the poverty line, and half of them are eligible for food stamps. Twenty percent of all household income in the U.S. is a transfer payment from government. Since when is our problem the lack of goods produced, rather than the lack of income to purchase the goods?