Redistribution — The Market's Overhead

Paul A. Levy
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Paul A. Levy: Springfield College, School of Human Services, (Manchester Site), 500 Commercial St., Manchester, NH 03101

Review of Radical Political Economics, 1994, vol. 26, issue 4, 1-22

Abstract: This article estimates the relative sizes of U.S. income distribution (e.g., market wages; dividends) and income redistribution (e.g., income maintenance; theft; inheritance; government subsidies). Using fairly conventional concepts and conservative estimates, it finds that half of individual income is from sources with significant redistributive qualities. Several implications are discussed. Most notably, the size and scope of redistribution suggest that it is intrinsic to the market. Seen in this way, redistribution is a costly overhead of operating a market system.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:26:y:1994:i:4:p:1-22

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