We investigate how vertical unity within a community interacts with horizontal class divisions of an unequal income distribution. Community is conceptualized in terms of a public good to which all those in the community have equal access, but from which outsiders are excluded. We formulate the...

The whole corpus of the economic establishment has reached a consensus that independent central banks should target inflation. Using the base rate of interest, aggregate demand should be set to ensure that there is an equilibrium level of employment and unemployment. The upshot is that any...

This paper develops a dynamic theory that accounts for the evolution of trade policy, underlying internal class conflicts, and output growth performance over the last few centuries. By analyzing political responses to the distributional effects of international trade, it finds a prominent...