The Principle of Merit and the capital-labour split

Abstract

AbstractSome meritocratic defenders of capitalism rely on the principle that cooperators should receive a share of the product commensurate with their contribution. However, such defences of capitalism fail due to a dilemma.Eitherthey rely on an understanding of contribution that arguably will be reflected by the capital-labour split in suitably idealized capitalist economies, butcannotserve as a plausible standard of merit;orthey rely on an interpretation of contribution thatisa plausible standard of merit, but which won’t tend to be reflected by the capital-labour split in capitalist economies.