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The goal of the thesis is to analyze theoretically as to how the financial globalization and the distribution of world income may be related. Does the financial market globalization exert an equalizing force? Or is it responsible for the economic stagnation of some countries in the world? These...
Cultural capital is assumed to benefit all members of society. It is accumulated through theconsumption of cultural services and is diminished through depreciation. Using the stock ofcultural goods (e.g. cultural heritage, works of arts, literature and music), cultural services areprovided by...
We present a model of growth and distributional conflict that implies a non-monotonic relationship between average wealth and the likelihood of radical redistribution: while the net benefits of redistribution for members of the poor class are small at low stages of development, a shift towards...