Macroeconomic Inequality from Reagan to Trump

Market Power, Wage Repression, Asset Price Inflation, and Industrial Decline

Inbunden, Engelska, 2020

AvLance Taylor,New York) Taylor, Lance (New School for Social Research

1 689 kr

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For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to measuring inequality, providing the first and only full integration of distributional and macro level data for the US. While work by Thomas Piketty and colleagues pursues integration from the income side, Professor Taylor uses data of distributions by size of income and wealth combined with the cost and demand sides, flows of funds, and full balance sheet accounting of real capital and financial claims. This blends measures of inequality with national income and product accounts to show the relationship between productivity and wages at the industry sector level. Taylor assesses the scope and nature of various interventions to reduce income and wealth inequalities using his simulation model, disentangling wage growth and productivity while challenging mainstream models.

Produktinformation

Utgivningsdatum2020-08-20
Mått215 x 240 x 15 mm
Vikt400 g
FormatInbunden
SpråkEngelska
SerieStudies in New Economic Thinking
Antal sidor146
FörlagCambridge University Press
ISBN9781108494632

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'This book is a tour de force. Combining deep theoretical insights with thorough empirical work, the authors explain the causes and consequences of major recent episodes in the advanced capitalist world. Over the decades, Taylor has built up a convincing, original, and thoroughly researched theoretical structure of his own. The end results illuminate understanding about the provision of humane and realistic policies. These findings operate as characteristics of this new volume, the first in an important new series. Macroeconomic Inequality from Reagan to Trump is certain to be a jewel in its crown.' Geoff Harcourt, Jesus College, Cambridge

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