The concentration of wealth in the United States has reached its highest level ever, equal to what it was on the eve of World War I. The wealthy maintain their wealth – sheltering it from confiscation via taxation – mainly through ideological means. Influencing politics directly through...

[This item is a preserved copy. To view the original, visit http://econtheory.org/] Axiomatic bargaining theory (e.g., Nash's theorem) is static. We attempt to provide a dynamic justification for the theory. Suppose a Judge or Arbitrator must allocate utility in an (infinite) sequence of...