Indeed, if communist central planners could have organized the economy with as much detail, precision, and flexibility as a modern-day Toyota or Wal-Mart, communism would probably still exist.

This relationship is the foundation for the argument, made by some trade unionists and labour advocates, that high wages can actually be "good for business". The precedent set by Henry Ford in 1914, who offered workers $5.00 per day (a very high wage at the time) so they could afford to buy the same cars they made, is often invoked.

Economics is a social science, not a physical science.

The total dividend income declared in 1995 by the bottom 9.7 million Canadian tax-filers (47% of all those submitting tax returns) was $310 million. The estimated dividend income received by the Thomson family in 1995 from its 72% ownership share of the Thomson Corporation and its 22% ownership share of the Hudson's Bay Company was $310 million.

Proving that profit is economically and morally justifiable, rather than the result of exploitation, has been a central preoccupation of neoclassical economists.

Indeed, if communist central planners could have organized the economy with as much detail, precision, and flexibility as a modern-day Toyota or Wal-Mart, communism would probably still exist.

The problem is not scarcity; the problem is power.