Kanbur, Ravi, Stiglitz, Joseph, (2015), “Wealth and income distribution: New theories needed for a new era”, Voxeu, 18 Αυγούστου
Growth theories traditionally focus on the Kaldor-Kuznets stylised facts. Ravi Kanbur and Nobelist Joe Stiglitz argue that these no longer hold; new theory is needed. The new models need to drop competitive marginal productivity theories of factor returns in favour of rent-generating mechanism and wealth inequality by focusing on the ‘rules of the game.’ They also must model interactions among physical, financial, and human capital that influence the level and evolution of inequality. A third key component will be to capture mechanisms that transmit inequality from generation to generation.
Σχετικές Αναρτήσεις
- Joseph E. Stiglitz, Branko Milanovic & Duncan Foley (Video Presentation) “New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals“, Institute for New Economic Thinking, 19 Δεκεμβρίου 2014.
- Van Treeck, Τ. (2014) “Income and Wealth Distribution in Germany: A Macroeconomic Perspective“, The Institute Blog, 29 Οκτωβρίου.