inequality

The Neoclassical Response to Inequality and Growth

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Part II: The Neoclassical Response to the Classical Theories of Inequality and Growth by Polly Cleveland, cross-posted from Dollars & Sense Read Part 1 Mason Gaffney has shown how many individuals helped construct neoclassical economics, often with financial support from the robber barons and their successors. I will focus on two: in the United States, […]

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Piketty’s forerunners

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by Polly Cleveland, cross posted from Dollars & Sense. In Thomas Piketty’s doomsday model, slowing of growth in the twenty-first century will cause an inexorable increase in inequality. Piketty is not the first to propose a grand model of inequality and growth. To get some perspective on his model, let’s see what the “classical” economists […]

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