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This paper argues that an increase in the inequality of wealth prompts a stronger quest for status that in turn fosters the accumulation of wealth. It proposes a measure for an individual’s want of social status. For a given level of a population’s wealth, the corresponding aggregate measure...
Persistent link: https://www.econbiz.de/10009729676
A theory is developed of labor migration that is prompted by a desire to avoid "social humiliation". In a general …
Persistent link: https://www.econbiz.de/10009733804