The starting point of our research is Piketty (2014) who follows Marx by asserting that rents are merely one of the forms of profits, therefore they do not require separate conceptual analysis and statistical separation. Speaking of the generation of rents (as a distinctly different mechanism...

Adam Smith, Tom Paine, John Stuart Mill and Karl Marx were all bold and outspoken about the injustices of extreme inequality, nationally and internationally. Yet by almost every standard, global inequality has grown substantially since they were writing, and national income inequality also over...

The Distribution Frontier is calculated for the Colombian economy using the 2005 supply and utilization matrixes data of goods in current prices. A basic model of circular capital is used based upon Sraffa (1960), Pasinetti (1986), and Muñoz and Riaño (1992). The frontier was calculated for...

Spanish Abstract: En las últimas décadas ha aumentado la bibliografía sobre la relación entre el crecimiento económico y su impacto social. Los sucesivos fracasos en la lucha contra la pobreza han dado lugar a nuevas estrategias para combatirla, como el “crecimiento pro-pobre.” Este...

This paper explores the implications on trade and wage inequality of introducing financial capital or credit in the standard Ricardian model of production, where a given amount of start-up credit is used to employ sector specific skilled and unskilled workers following the Wage Fund approach of...

Understanding the origins of wealth inequality is critical in the debate over what, if anything, to do about it. In this note, we propose a simple model which is still rich enough to reproduce observed patterns of wealth inequality. We call it the Concentrated Asset Betting (CAB) model. A key...

In the ten years 1953-62, the average price level in Italy rose every year, with the exception of 1959. The present article examines the effects of this inflationary process on income distribution. To do so the author first determines the extent to which each productive sector contributed to the...

Luigi Pasinetti’s work has deeply affected modern economic theory. His papers on the Cambridge Capital Controversy are world renowned. But he has made many other contributions to the economic debates of the last half century, offering not only detailed criticisms of mainstream economic theory,...

Professor Hsu demonstrates how law can operate to exacerbate the growth of capital over general economic growth. The point of this essay is to show that sometimes those laws are the result of intentional discrimination because of race

The Capability Approach has been adopted as a theoretical framework for official Poverty and Wealth Reports by the German government. For the first time, this paper provides information on the use of the Capability Approach in this reporting process to international readers. We show the...