. An important way in which policymakers work to reduce inequality is by redistributing income from the wealthy to the poor …, channeling income tax revenue into spending on welfare and other services. The authors suggest, however, that New York City and … redistribute more income, but by 1990, this connection was no longer evident. The authors attribute this change to an erosion in …

attributed a decline in its per capita income ranking since 1970 to "eurosclerosis" or sluggish growth caused by distortionary …