scholarly journals Differential Rates of Return and Racial Wealth Inequality

Author(s):  
Luke Petach ◽  
Daniele Tavani
2020 ◽  
Vol 2 (4) ◽  
pp. 443-458
Author(s):  
Anmol Bhandari ◽  
Serdar Birinci ◽  
Ellen R. McGrattan ◽  
Kurt See

This paper examines the reliability of survey data on business incomes, valuations, and rates of return, which are key inputs for studies of wealth inequality and entrepreneurial choice. We compare survey responses of business owners with available data from administrative tax records, brokered private business sales, and publicly traded company filings and document problems due to nonrepresentative samples and measurement errors across several surveys, subsamples, and years. We find that the discrepancies are economically relevant for the statistics of interest. We investigate reasons for these discrepancies and propose corrections for future survey designs. (JEL C82, C83, D22)


2017 ◽  
Vol 47 (1) ◽  
pp. 32-57
Author(s):  
Scott S. Condie ◽  
Richard W. Evans ◽  
Kerk L. Phillips

This article examines Thomas Piketty’s thesis that there are no natural limits on the accumulation of wealth. We undertake our examination in the context of a simple general equilibrium model with infinitely lived dynasties. We show that extreme wealth accumulation does not happen in general equilibrium unless capital and labor are substitutes, an assumption which also leads to unbalanced growth. We also show that even with unbalanced growth, differences in rates of return and effective labor are not sufficient to cause unbounded inequality. Only permanent savings rate differences can lead to extreme wealth concentration. Finally, we show that while a flat wealth tax will not eliminate extreme wealth concentration, both a graduated wealth tax and a flat income tax will.


2020 ◽  
Author(s):  
Roger Farmer ◽  
Jean-Philippe Bouchaud
Keyword(s):  

Author(s):  
Mugambi Jouet

Americans are far more divided than other Westerners over basic issues, including wealth inequality, health care, climate change, evolution, the literal truth of the Bible, apocalyptical prophecies, gender roles, abortion, gay rights, sexual education, gun control, mass incarceration, the death penalty, torture, human rights, and war. The intense polarization of U.S. conservatives and liberals has become a key dimension of American exceptionalism—an idea widely misunderstood as American superiority. It is rather what makes America an exception, for better or worse. While exceptionalism once was largely a source of strength, it may now spell decline, as unique features of U.S. history, politics, law, culture, religion, and race relations foster grave conflicts and injustices. They also shed light on the peculiar ideological evolution of American conservatism, which long predated Trumpism. Anti-intellectualism, conspiracy-mongering, radical anti-governmentalism, and Christian fundamentalism are far more common in America than Europe, Canada, Australia, and New Zealand. Drawing inspiration from Alexis de Tocqueville, Mugambi Jouet explores American exceptionalism’s intriguing roots as a multicultural outsider-insider. Raised in Paris by a French mother and Kenyan father, he then lived throughout America, from the Bible Belt to New York, California, and beyond. His articles have notably been featured in The New Republic, Slate, The San Francisco Chronicle, The Huffington Post, and Le Monde. He teaches at Stanford Law School.


1968 ◽  
Vol 24 (6) ◽  
pp. 95-97 ◽  
Author(s):  
Elba F. Baskin ◽  
Gary M. Grooch
Keyword(s):  

2020 ◽  
Author(s):  
Moustafa Chatzouz

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