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Public investment can cause the preferences of the decisive voter in one period to differ from preferences of the decisive voter in an earlier period. Forward-looking voters may therefore vote against a policy that would increase the incomes of all persons. The effect may arise when increased...
Persistent link: https://www.econbiz.de/10005780864
High inequality in human capital may result in appropriation. In anticipation, the rich may favor policies which induce a more equal distribution of human capital, such as income transfers and mandatory schooling. This paper compares several such alternatives. We find that mandatory schooling...
Persistent link: https://www.econbiz.de/10005780874
We consider two types of consumers, educated and uneducated, with each preferring a different variety of goods. A decisive set of persons can impose compulsory education on all. We find conditions under which educated persons will want to impose compulsory education, and conditions under which...
Persistent link: https://www.econbiz.de/10005671591