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82

The Economics of Inequality

1
terms
2
notes

B. Atkinson, A. (2015). The Economics of Inequality. In B. Atkinson, A. Inequality: What Can Be Done?. Harvard University Press, pp. 82-109

82
  • globalisation
  • technological change (information and communications technology)
  • growth of financial services
  • changing pay norms
  • reduced role of trade unions
  • scaling back of the redistributive tax-and-transfer policy

[...] we risk creating the impression that inequality is rising on account of forces outside our control. It is far from obvious that these factors are beyond our influence or that they are exogenous to the economic and social system. Globalisation is the result of decisions taken by international organisations, by national governments, by corporations, and by individuals as workers and consumers. The direction of technological change is the product of decisions by firms, researchers, and governments. The financial sector may have grown to meet the demands of an aeing population in need of financial instruments that provide for retirement, but the form it has taken and the regulation of the industry have been subject to political and economic choices.

rise in inequality due to changes in the balance of power

—p.82 by Anthony B. Atkinson 2 years, 3 months ago
  • globalisation
  • technological change (information and communications technology)
  • growth of financial services
  • changing pay norms
  • reduced role of trade unions
  • scaling back of the redistributive tax-and-transfer policy

[...] we risk creating the impression that inequality is rising on account of forces outside our control. It is far from obvious that these factors are beyond our influence or that they are exogenous to the economic and social system. Globalisation is the result of decisions taken by international organisations, by national governments, by corporations, and by individuals as workers and consumers. The direction of technological change is the product of decisions by firms, researchers, and governments. The financial sector may have grown to meet the demands of an aeing population in need of financial instruments that provide for retirement, but the form it has taken and the regulation of the industry have been subject to political and economic choices.

rise in inequality due to changes in the balance of power

—p.82 by Anthony B. Atkinson 2 years, 3 months ago

a general equilibrium mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics; countries will export products that use their abundant and cheap factor(s) of production and import products that use the countries' scarce factor(s)

83

In the case of globalisation, what lies behind is the standard international trade model (usually referred to as the Heckscher–Ohlin model after the two Swedish economists Eli Heckscher and Bertil Ohlin), according to which the classes of workers, skilled and unskilled, are employed in two perfectly competitive economies, each with two sectors of production.

—p.83 by Anthony B. Atkinson
notable
2 years, 3 months ago

In the case of globalisation, what lies behind is the standard international trade model (usually referred to as the Heckscher–Ohlin model after the two Swedish economists Eli Heckscher and Bertil Ohlin), according to which the classes of workers, skilled and unskilled, are employed in two perfectly competitive economies, each with two sectors of production.

—p.83 by Anthony B. Atkinson
notable
2 years, 3 months ago
94

[...] the decline in unionisation is the result of the bias in technical change towards skilled workers. Technological change biased towards skilled workers undermines the coalition between them and unskilled workers that provides the basis for union bargaining power, and the consequent decline in unionisation amplifies the rise in wage dispersion.

divide and conquer applied to the workforce on the part of management (as a proxy for capital)

—p.94 by Anthony B. Atkinson 2 years, 3 months ago

[...] the decline in unionisation is the result of the bias in technical change towards skilled workers. Technological change biased towards skilled workers undermines the coalition between them and unskilled workers that provides the basis for union bargaining power, and the consequent decline in unionisation amplifies the rise in wage dispersion.

divide and conquer applied to the workforce on the part of management (as a proxy for capital)

—p.94 by Anthony B. Atkinson 2 years, 3 months ago