Dr. Dunkelberg suggests that social legislation is designed to alter an existing income distribution (broadly defined) and that this unsatisfactory income distribution is the result of a successful (efficient) market system. An efficient market system where each factor receives a price approximately equal to value of its marginal product and each market agent acts in his/her own best interest' will inevitably create inequities. But it does not follow that existing inequities are the result of an efficient market.
