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5 - Institutions and Models for Maldistribution

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

Chapter 6 presents simulation results from a simple, demand-driven economic growth and distribution model based on the numbers we have discussed. This chapter provides background for the simulations. It first takes up proposed institutional explanations for increasing income inequality, with regard to labor market power, then forces supporting high profits and wealth, and implications of duality. The second part of the chapter summarizes aspects of demand-driven macroeconomics as it is influenced by distribution. Relevant algebra is presented in the Appendix.

Type
Chapter
Information
Macroeconomic Inequality from Reagan to Trump
Market Power, Wage Repression, Asset Price Inflation, and Industrial Decline
 , pp. 79 - 105
Publisher: Cambridge University Press
Print publication year: 2020

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