This paper develops a novel axiomatic analysis of exploitation as the unequal exchange of labour, derives an empirical exploitation index at the individual level, and provides the first estimation of the distribution of exploitation in the US in 1975-2022. We show that, among possible...

Introduction -- The history of the minimum wage in the United States -- The effects of minimum wages on employment -- Minimum wage effects on the distribution of wages and earnings -- The effects of minimum wages on the distribution of incomes -- The effects of minimum wages on skills -- The...

Currently the hottest two domestic macroeconomic issues in the United States are the dynamics of the federal funds rate (FFR) and the deterioration of income inequality. Amid the great uncertainty over the FFR, this paper attempts to predict where the FFR is bound to go in the near and...

Natural advantages determine where agglomerations emerge. Also, efficiency and economies of scale determine how many agglomerations subsist and how they interact, forming complex urban hierarquies. Moreover, physical characteristics influence the way humans divide land into irregular parcels we...

This paper surveys current debates on the distributive cycle. The literature builds on R.M. Goodwin's seminal 1967 chapter titled "A growth cycle." We review theoretical motivations for the distributive cycle, which, despite significant differences, all imply that macroeconomic activity leads...