We study the effects of innovations on income distribution in capitalist economies characterised by a drive to accumulate. Consistent with the basic intuitions of Marx's theory of technical change, we show that there is no obvious relation between ex-ante profitable innovations and the income...

We study the effects of innovations on income distribution in capitalist economies characterised by a drive to accumulate. Consistent with the basic intuitions of Marx's theory of technical change, we show that there is no obvious relation between ex-ante profitable innovations and the income...

This paper analyses Austrian data on (financial) wealth and income. The main focus lays on the distribution of these indicators. Using a decomposition procedure of the Gini Index first proposed by Lerman and Yitzhaki (1985), it is possible to recover the effect of specific forms of investments...