This paper compares the theory of value and distribution of Arrow and Debreu [1954] with that of Sraffa [1960]. I consider such versions of the two models that capture their salient features, without aiming at the greatest possible generality, so as to isolate the precise nature of the...

For any intransitive community preference, we construct a non-convex economy where all the marginal cost pricing general equilibria are Pareto inefficient (theorem 3.2). The result is valid without requiring a fixed income distribution rule (corollary 3.3). Intransitive community preferences are...

The purpose of this paper is to investigate the link between CSR growth and income distribution. We present a general equilibrium model where social responsibility enters both firms' and consumers' decisions. The model admits the existence of multiple equilibria, each of them characterized by a...

Income disparities and the intra-family redistribution implied by a marriage may induce a high-income earner to abstain from marrying a low-income earner even though they would be a perfect match emotionally. Redistributive income taxation eases this problem, and the design of marriage matching...

The aim of this paper is to investigate the dichotomy between economic growth and income distribution in Brazilian economy. Through input output model shocks in exogenous demand of each industry were simulated to determine which one contributes to economic growth and diminishment of Gini income...

This paper analyzes the role of income distribution in macroeconomic analysis. The study demonstrates that the long-run equilibrium depends on the initial distribution of income. In accordance with empirical evidence concerning the correlation between income distribution and output, an economy...

This paper presents a dynamic general equilibrium model with heterogeneous firms and entrepreneur's portfolio choice. We analytically show that this model generates the Pareto distribution of top income earners and Zipf's law of firms at the steady state. The differential equation for the...

All popular schools lack a consistent profit theory. Economists have no true conception of the most important phenomenon in their universe. This methodological defect persists since Adam Smith. Therefore, the theories of income and wealth distribution are wrong by logical implication. If the...

Abstract: The objective of this study is to measure and explain the extent of regional economic inequalities in Jordan. To do so, this study uses the raw data of two national household surveys on expenditure and income that covers 5,971 and 11,153 households in 1997 and 2002, respectively. As a...

With the election of an African American as President, many would think that the question of affirmative action and equal opportunity has been finally laid to rest in the United States. This perception may be true for the proponents of affirmative action, whom over the years believe that the...