Everyone has a soft spot for pensioners. This probably explains most peoples’ unquestioning approval of pensioners …’ travel concessions. However, it is argued here that concessions do not make sense because pensioners would be better off with … modest weekly expense of the same order as the weekly cost of food ( for which pensioners are not given concessions ). Second …

distribution of wealth and sectoral productivity. It is shown that, for fast transformation into a developed economy, the initial …

structural change, an economy must start with a wealth distribution that gives rise to an adequate size of 'middle class'. Once …

We present a simple stochastic model in which heterogeneous agents accumulate wealth belonging to the capitalist or the … based on a random process depending on wealth distribution and the profit rate. In general, playing the role of capitalist … rises the probability of accumulating more and more wealth that, in turn, increases the probability to play again the role …

household increases individual assets in the first steady state, households may polarise into the poor and the rich in the …

Empirical evidence shows that entrepreneurs hold a large fraction of wealth, have higher saving rates than workers, and … uninsurable entrepreneurial risk for wealth distribution and aggregate activity in an incomplete market economy. It is shown that … entrepreurial risk can substantially affect both the wealth distribution and the macroeconomy. …

between income distribution and output, an economy that is characterized by a relatively equal distribution of wealth is …

the diffusion of their wealth. The calibrated model shows that the transition path matches with the decline of the Pareto …

phenomenon in their universe. This methodological defect persists since Adam Smith. Therefore, the theories of income and wealth …