Wealth Concentration, Income Distribution, and Alternatives for the USA
Lance Taylor (),
Ozlem Omer () and
No 2015-06, SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School
US household wealth concentration is not likely to decline in response to fiscal interventions alone. Creation of an independent public wealth fund could lead to greater equality. Similarly, once-off tax/transfer packages or wage increases will not reduce income inequality significantly; ongoing wage increases in excess of productivity growth would be needed. These results come from the accounting in a simulation model based on national income and financial data. The theory behind the model borrows from ideas that originated in Cambridge UK (especially from Luigi Pasinetti and Richard Goodwin).
Keywords: Wealth distribution; income distribution; Cambridge theory (search for similar items in EconPapers)
JEL-codes: B50 D31 D33 D58 (search for similar items in EconPapers)
Pages: 49 pages
New Economics Papers: this item is included in nep-cmp, nep-hme, nep-pbe and nep-pke
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Working Paper: Wealth Concentration, Income Distribution, and Alternatives for the USA (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:epa:cepawp:2015-06
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