Rethinking income distribution

Omar. Hamouda

Chapter 8 in A Modern Guide to Rethinking Economics, 2017, pp 153-168 from Edward Elgar Publishing

Abstract: How can policy interventions achieve their desired goal of alleviating income disparities? Is there an established, universal economic criterion that guides what determines or how to judge “fair†distribution? The economic structure of the twenty-first century is characterized by a production pattern in which capital is slowly eclipsing labour in the creation of added value, rendering a great deal of human participation redundant. In this environment, orthodox economics has little to contribute to the question of who should get what portion of the national dividend, and income redistribution is problematic. Insight from Keynes can help in rethinking the theory of income distribution.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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