Wages Vs Capital PDF Download
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Author | : Fatih Guvenen |
Publisher | : |
Total Pages | : 0 |
Release | : 2017 |
Genre | : |
ISBN | : |
Download Taxation of Human Capital and Wage Inequality Book in PDF, ePub and Kindle
Wage inequality has been significantly higher in the United States than in continental European countries (CEU) since the 1970s. Moreover, this inequality gap has further widened during this period as the US has experienced a large increase in wage inequality, whereas the CEU has seen only modest changes. This paper studies the role of labor income tax policies for understanding these facts, focusing on male workers. We construct a life cycle model in which individuals decide each period whether to go to school, work, or stay non-employed. Individuals can accumulate skills either in school or while working. Wage inequality arises from differences across individuals in their ability to learn new skills as well as from idiosyncratic shocks. Progressive taxation compresses the (after-tax) wage structure, thereby distorting the incentives to accumulate human capital, in turn reducing the cross-sectional dispersion of (before-tax) wages. Consistent with the model, we empirically document that countries with more progressive labor income tax schedules have (i) significantly lower before-tax wage inequality at different points in time and (ii) experienced a smaller rise in wage inequality since the early 1980s. We then study the calibrated model and find that these policies can account for half of the difference between the US and the CEU in overall wage inequality and 84% of the difference in inequality at the upper end (log 90-50 differential). In a two-country comparison between the US and Germany, the combination of skill-biased technical change and changing progressivity of tax schedules explains all the difference between the evolution of inequality in these two countries since the early 1980s.
Author | : Karl Marx |
Publisher | : Wildside Press LLC |
Total Pages | : 54 |
Release | : 2008-04-01 |
Genre | : Political Science |
ISBN | : 1434469263 |
Download Wage-Labour and Capital Book in PDF, ePub and Kindle
This volume contains an English translation of Karl Marx's influential essay.
Author | : Karl Marx |
Publisher | : |
Total Pages | : 64 |
Release | : 1952 |
Genre | : Capital |
ISBN | : |
Download Wage Labour and Capital Book in PDF, ePub and Kindle
Author | : Daniel Markovits |
Publisher | : Penguin |
Total Pages | : 450 |
Release | : 2020-09-08 |
Genre | : Social Science |
ISBN | : 0735222010 |
Download The Meritocracy Trap Book in PDF, ePub and Kindle
A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.
Author | : John Bates Clark |
Publisher | : |
Total Pages | : 490 |
Release | : 1899 |
Genre | : Wages, prices and productivity |
ISBN | : |
Download The Distribution of Wealth Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 24 |
Release | : 1995 |
Genre | : Business enterprises |
ISBN | : |
Download Multifactor Productivity Trends Book in PDF, ePub and Kindle
Author | : Francis Minton |
Publisher | : |
Total Pages | : 508 |
Release | : 1888 |
Genre | : Capital |
ISBN | : |
Download Capital and Wages Book in PDF, ePub and Kindle
Author | : Thomas Piketty |
Publisher | : Harvard University Press |
Total Pages | : 817 |
Release | : 2017-08-14 |
Genre | : Business & Economics |
ISBN | : 0674979850 |
Download Capital in the Twenty-First Century Book in PDF, ePub and Kindle
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Author | : Edward P. Lazear |
Publisher | : University of Chicago Press |
Total Pages | : 473 |
Release | : 2009-05-15 |
Genre | : Business & Economics |
ISBN | : 0226470512 |
Download The Structure of Wages Book in PDF, ePub and Kindle
The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.
Author | : Karl Marx |
Publisher | : |
Total Pages | : 120 |
Release | : 1902 |
Genre | : Capital |
ISBN | : |
Download Wage-labor and Capital Book in PDF, ePub and Kindle