Inequality and Social Disorder

Adolfo Figueroa

Chapter Chapter 7 in Growth, Employment, Inequality, and the Environment, 2015, pp 151-180 from Palgrave Macmillan

Abstract: Abstract According to the epsilon, omega, and sigma models presented so far, production and distribution in capitalist societies are endogenously determined. Income inequality is thus an outcome of the economic process. An implicit assumption of these models was that the degree of inequality was always socially tolerable. Therefore, once static general equilibrium was reached, production and distribution could be repeated period after period under the same rules of the economic game, that is, the general equilibrium implied social order.

Keywords: Income Inequality; General Equilibrium; Exogenous Variable; Median Voter; General Equilibrium Model (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-50267-4_7

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DOI: 10.1057/9781137502674_7

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