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Studies in Macroeconomic Theory - 1st Edition - ISBN: 9780125540025, 9781483271033

Studies in Macroeconomic Theory

1st Edition

Redistribution and Growth

Author: Edmund S. Phelps
Editor: Karl Shell
eBook ISBN: 9781483271033
Imprint: Academic Press
Published Date: 28th July 1980
Page Count: 342
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Studies in Macroeconomic Theory, Volume 2: Redistribution and Growth is a compendium of scholarly papers on the behavior and public control of distribution and growth in the market economy.

The papers in this volume focus on the subject of public finance under the broad theory of economic policy. The papers are grouped into five groups or sections. Part I covers the steady-state choices. The second part takes up the efficient use of a given volume of saving in the choice among national investments. Part III explores the alternative approaches to optimal national saving. Part IV discusses the maximin-optimal graduated taxation of wage income. The final section expounds on Rawls's vision of the just economy.

Economists will find the text invaluable and insightful.

Table of Contents


Introduction: Taxation, Redistribution, and Growth

I. Steady-State Choices

1. The Golden Rule of Accumulation: A Fable for Growthmen

2. Public Debt, Taxation, and Capital Intensiveness

3. Linear Taxation of Wealth and Wages for Intragenerational Lifetime Justice: Some Steady-State Cases

II. Efficient Growth: The Uses of Saving

4. The New View of Investment

5. Substitution, Fixed Proportions, Growth and Distribution

6. Induced Invention, Growth and Distribution

7. On the Increase of Technology

8. Investment in Humans, Technological Diffusion, and Economic Growth

9. Population Increase

III. Optimal National Saving: Alternative Approaches

10. The Accumulation of Risky Capital: A Sequential Utility Analysis

11. Fiscal Neutralism and Activism toward Economic Growth

12. Second-Best National Saving and Game-Equilibrium Growth

13. The Indeterminacy of Game-Equilibrium Growth

14. Rawlsian Growth: Dynamic Programming of Capital and Wealth for Intergeneration 'Maximin' Justice

IV. Optimal Redistribution and Growth

15. Taxation of Wage Income for Economic Justice

16. Linear 'Maximin' Taxation of Wage and Property Income on a 'Maximin' Growth Path

17. The Concept of Optimal Taxation in the Overlapping-Generations Model of Capital and Wealth

V. Notions of Justice in Public Finance

18. Recent Developments in Welfare Economics: Justice et Équité


No. of pages:
© Academic Press 1980
28th July 1980
Academic Press
eBook ISBN:

About the Author

Edmund S. Phelps

About the Editor

Karl Shell

Affiliations and Expertise

Cornell University

Ratings and Reviews