Send the following on WhatsApp
Continue to ChatFirms would be given initial entitlements to gross markup on the basis of past performance, adjusted by changes in labor and capital inputs. This is somewhat similar to the definition of normal profits under some versions of the wartime excess -profits tax. Entitlements would be transferable and a competitive market established. - William Vickrey from https://whatsmyquote.com/quote/firms-would-be-given-initial-entitlements-to-gross-markup-on-the-basis-of-past-performance-adjusted-by-changes