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3 - “Capital,” Capital Gains, Capitalization, and Wealth

Published online by Cambridge University Press:  31 July 2020

Lance Taylor
With
Özlem Ömer
Lance Taylor
Affiliation:
New School for Social Research, New York
Özlem Ömer
Affiliation:
Haci Bektas Veli University, Turkey
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Summary

Capital theory is a small, recondite branch of economics but it can erupt into furious debate about the control of income and wealth. US distributive conflict has brought ancient academic battles to the fore. Capital theory helps shed light on the numbers but it will take some effort to grasp the details. One way to analyze distribution is in terms of the size of households’ incomes or holdings of wealth. Alternatively, macroeconomic growth and capital theories analyze the nature or function of payments flows, assets, and liabilities.

Type
Chapter
Information
Macroeconomic Inequality from Reagan to Trump
Market Power, Wage Repression, Asset Price Inflation, and Industrial Decline
 , pp. 42 - 57
Publisher: Cambridge University Press
Print publication year: 2020

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