THE NEOINSTITUTIONAL NATURE OF ECONOMIC INEQUALITY

НЕОИНСТИТУЦИОНАЛЬНАЯ ПРИРОДА ЭКОНОМИЧЕСКОГО НЕРАВЕНСТВА

Aleksei A. Podgaiko (Подгайко А.А.)
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Aleksei A. Podgaiko (Подгайко А.А.): Southern Federal University

State and Municipal Management Scholar Notes, 2022, vol. 3, 307-312

Abstract: Economic inequality is a very acute research problem in the modern methodological trend of science. The discourse presented in the course of multiple studies forms judgments about inequality in the context of an uneven distribution of income within the economy. But when calculating the real incomes of consumers in the neoclassical tradition, the influence of transaction costs is neglected. Neoinstitutional economic theory, being a continuation of the neoclassical research paradigm, draws attention to the fact that economic exchange does not occur by itself, but occurs under the conditions of transaction costs. Considering the fact that transaction costs in the economy can be heterogeneous and unbalanced, that is, the burden of making an exchange may be different for different counterparties, a research hypothesis is formed for the article that transaction costs can be a regulator of economic inequality, restraining or dispersing it. The article aims to substantiate this hypothesis.

Keywords: inequality; neoinstitutional economics; transaction costs; real incomes (search for similar items in EconPapers)
Date: 2022
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