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is divided into two main parts. Part I considers the positive theory of income distribution, beginning with the classical …. In the twentieth century, the neoclassical theory was extended to include analysis of the role of imperfect competition … continues with the attempts to establish an analytical foundation for welfare economics. The rise of Paretian welfare theory …
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divided into two main parts. Part I considers the positive theory of income distribution, beginning with the classical …. In the 20th century the neoclassical theory was extended to include analysis of the role of imperfect competition, human … attempts to establish an analytical foundation for welfare economics. The rise of Paretian welfare theory with its emphasis on …
Persistent link: https://www.econbiz.de/10014152951
's version of the Invisible Hand in Theory of Moral Sentiments. The paper draws from Theory of Moral Sentiments, Wealth of …
Persistent link: https://www.econbiz.de/10013130143
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...
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