ABSTRACT
An essential aspect of the economic theory elaborated in Part I is that it leaves distribution as an exogenous variable (unlike neoclassical economics, where distribution is determined by marginal productivities through supply and demand curves). This leaves space for social and ethical considerations concerning the distribution of the surplus. In Part II, the social factors underlying the distribution of the surplus (that provide power for accessing the surplus) were addressed. But a different question is how the surplus should be distributed (rather than how is it distributed). Of course, both questions are related since, as Lawson (2012) notes, social behaviour is inherently normative. Thus, we must now address ethical considerations concerning the distribution of the surplus.
