Income and Wealth Policy: Toward Optimal Inequality

Gary D. Lynne ()
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Gary D. Lynne: University of Nebraska–Lincoln

Chapter Chapter 14 in Metaeconomics, 2020, pp 235-258 from Palgrave Macmillan

Abstract: Abstract Metaeconomics clarifies that extreme income and wealth inequality can drive deterioration in public health and exacerbate social problems. Metaeconomics clarifies that the inequality is also driving populism, and the move to extreme views in Political Tribes. Most importantly, Metaeconomics clarifies the task as one of finding the optimal amount of inequality. Cases such as in baseball team performance and business performance are highlighted, showing that both extreme equality and extreme inequality decrease overall performance. The focus needs to be on balance in compensation packages, thinking in terms of superstar and typical player, CEO management and labor as integrated in compensation. The same is true in thinking about social security and the minimum wage.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:pal:paichp:978-3-030-50601-8_14

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DOI: 10.1007/978-3-030-50601-8_14

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