What accounts for the growth of US top income inequality? This paper proposes a hierarchical redistribution hypothesis. The idea is that US firms have systematically redistributed income to the top of the corporate hierarchy. I test this hypothesis using a large scale hierarchy model of the US...

This paper offers a new approach to the study of capitalist income. Building on the "capital as power" framework, I propose that capitalists earn their income not from any productive asset, but from the legal right to command a corporate hierarchy. In short, I hypothesize that capitalist income...

We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...

Since the 1980s, the share of wages in national income declined almost all over the world. This paper provides an overview of the evolution of labour's share in selected OECD countries. Several theoretical approaches explaining functional income distribution are summarised. In light of the...