EFFICIENCY, EQUITY AND DEMOCRACY: EXPERIMENTAL EVIDENCE ON OKUN’S LEAKY BUCKET

Steven Beckman, John P Formby and W James Smith

A chapter in Inequality, Welfare and Income Distribution: Experimental Approaches, 2004, pp 17-42 from Emerald Group Publishing Limited

Abstract: Income redistribution and its consequences have been the subject of intense debate over the last three decades. This is nowhere better evidenced than in the motivations which are variously ascribed to such redistributions. The social welfare approach, for example, starts from the premise that redistribution of income from the rich to the poor enhances social welfare, a fact from which redistribution derives its motivation. In contrastTullock (1983, p. 2)argues that the major impetus for income redistribution is simply that the beneficiaries of transfer programs want larger incomes and greater wealth and have the political power to realize their goals.Buchanan (1984, p. 187)finds a constitutional basis for redistribution arguing that, if the voting franchise is universal and the constitution allows collective decisions concerning income transfers, then the basic property right to income in a society inheres in the voting franchise.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:eme:reinzz:s1049-2585(04)11002-8

DOI: 10.1016/S1049-2585(04)11002-8

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