with the likelihood of being middle class. The example of Colombia illustrates that, while growing in size, this income …

caught in a vicious circle. They lack sufficient access to education, credit and other means to generate income, so they earn … lower wages, which in turn prevents them from accumulating the assets they need to increase future income. The authors … analyze the ownership and use of income-generating assets, as well as access to them. Where there are market imperfections …

This paper argues that the details of political institutions help explain the low levels of personal income taxation … 1990 and 2007, this paper finds that i) countries with historically more unequal distributions of wealth and income … lower shares of personal income taxes in GDP. present higher levels of legislative malapportionment, and ii) higher levels …

caught in a vicious circle. They lack sufficient access to education, credit and other means to generate income, so they earn … lower wages, which in turn prevents them from accumulating the assets they need to increase future income. The authors … analyze the ownership and use of income-generating assets, as well as access to them. Where there are market imperfections …