Wealth Redistribution in Bubbles and Crashes

2022 ◽  
Author(s):  
Li An ◽  
Dong Lou ◽  
Donghui Shi
Keyword(s):  
Wealth Redistribution

‘Everything Belongs to God’

2018 ◽  
Author(s):  
Walter Rech
Keyword(s):  
Social Justice ◽  
Public Good ◽  
Economic Inequality ◽  
Private Ownership ◽  
Social Conflicts ◽  
The Public ◽  
The Social ◽  
Wealth Redistribution ◽  
Social Teachings

This chapter examines and contextualizes Sayyid Qutb’s doctrine of property and social justice, which he articulated at a time of deep social conflicts in Egypt. The chapter describes how Qutb, along with other writers concerned with economic inequality in the 1920s–40s such as Hasan al-Banna (1906–1949) and Abd al-Razzaq al-Sanhuri (1895–1971), conceptualised private ownership as a form of power that must be limited by religious obligations and subordinated to the public good. The chapter further shows that Qutb made this notion of restrained property central to a broader theory of social justice and wealth redistribution by combining the social teachings of the Qur’an with the modern ideal of the centralized interventionist state. Arguably this endeavour to revitalise the Quranic roots of Islamic charity and simultaneously appropriate the discourse of modern statehood made Qutb’s position oscillate between legalism and anti-legalism.

School Catchment Zone Mergers and Housing Wealth Redistribution

2021 ◽  
pp. 0739456X2110067
Author(s):  
Siu Kei Wong ◽  
Kuang Kuang Deng
Keyword(s):  
School Quality ◽  
Housing Prices ◽  
Estimation Method ◽  
Policy Implications ◽  
Housing Wealth ◽  
Housing Values ◽  
Wealth Redistribution ◽  
The Government ◽  
Empirical Design

This study investigates how perceived school quality affects housing values, using a new estimation method. Our empirical design takes advantage of the mergers of school catchment zones initiated by the government to develop quasi-experiments. We find that, in zones that gained sudden access to higher ranked schools, housing prices increased by 1.3 to 4.1 percent. Larger and more expensive houses appreciated more in response to the improvement in perceived quality of available schools. The findings generate important policy implications regarding housing wealth redistribution and housing expenditures among different households. The study also enriches the literature on the capitalization effect of school quality.

scholarly journals Fascism: Left, Right, or Neither

2021 ◽  
Author(s):  
Allen Gindler
Keyword(s):  
Private Property ◽  
The Political ◽  
Practical Implementation ◽  
Individual Freedom ◽  
Proper Place ◽  
Private Property Rights ◽  
Wealth Redistribution ◽  
Political Spectrum ◽  
The Right ◽  
Means Of Production

The article discusses fascism's place on the political spectrum. At present, there is no consensus among political scientists and economists on that issue, as it has been extraordinarily politicized and distorted during ideological struggles among various currents of socialism. From the very beginning, fascism was depicted by Marxists as belonging to the Right, while Fascists themselves wanted to build a society that transcends the Left-Right paradigm. However, few voices in academia have noted that practical implementation of the fascists’ ideas, inherited from the works of revolutionary and national syndicalists, exhibited predominantly leftist characteristics.The ambiguity of placing fascism in its proper place on the political spectrum can be confidently resolved by applying three primary factors that govern political spectrum polarization: attitude to private property, scope of individual freedom, and degree of wealth redistribution. The article argues that fascism is a particular current of non-Marxian socialism that utilized collectivization of consciousness and wealth redistribution as the main paths toward socialism rather than outright expropriation of private property or means of production. Simultaneously, it is acknowledged that private property rights were inhibited by the fascist state, even though de jure they were permitted.The fascist ideal of the “alternate way” had a logical inconsistency that produced an unstable equilibrium between labor and capital as well as between the man and the state. The politico-economic structure predictably collapsed to the left in the course of building a new society. Therefore, fascism could be correctly called the Right of the Left.

The Motivation for Zoning: Efficiency or Wealth Redistribution?

1979 ◽  
Vol 55 (4) ◽  
pp. 472 ◽  
Author(s):  
Michael L. Goetz ◽  
Larry E. Wofford
Keyword(s):  
Wealth Redistribution

Capitalism, Socialism, and Technocracy

2019 ◽  
pp. 321-347
Author(s):  
Jeffrey Friedman
Keyword(s):  
Public Goods ◽  
Social Problems ◽  
Private Sphere ◽  
Wealth Redistribution ◽  
And Behavior ◽  
Alternative Solutions

An alternative to the Hobson’s choice may be called “exitocracy.” In such a regime, exit would be preferred to voice when possible. This would enable people to experiment, as Dewey advocated, but without attempting to understand or predict the ideas and behavior of millions of anonymous others, as technocracy expects us to do. Exit is not a panacea for social problems, but it may be a superior remedy to those offered by technocracy, which make exacting epistemic demands. An exitocracy would facilitate exit by creating a robust private sphere, enabling capitalist competition to provide alternative solutions to people’s personally experienced problems, and an equally robust program of socialist wealth redistribution to enable people to pay for these solutions. Public goods, though, would still have to be provided in traditional technocratic fashion. This raises the question of whether the critique of technocracy is best seen as institutional or, instead, as cultural.

scholarly journals Less human, more to blame: Animalizing poor people increases blame and decreases support for wealth redistribution

2019 ◽  
Vol 23 (4) ◽  
pp. 546-559 ◽  
Author(s):  
Mario Sainz ◽  
Rocío Martínez ◽  
Robbie M. Sutton ◽  
Rosa Rodríguez-Bailón ◽  
Miguel Moya
Keyword(s):  
Socioeconomic Status ◽  
Human Nature ◽  
Low Socioeconomic Status ◽  
Poor People ◽  
Low Ses ◽  
Negative Attitudes ◽  
Low Socioeconomic ◽  
Mediation Analyses ◽  
Wealth Redistribution ◽  
Human Uniqueness

Increasing economic inequality adversely affects groups with low socioeconomic status (low-SES). However, many people are opposed to wealth redistribution policies. In this context, we examined whether dehumanization of low-SES groups has a role in this opposition. In the first study ( N = 303), opposition to wealth redistribution was related to denying human uniqueness (e.g., intelligence and rationality) and having negative attitudes toward low-SES groups, more than denying human nature (e.g., emotionality and capacity to suffer) to low-SES groups. Mediation analyses indicated that this effect occurred via blaming low-SES groups for their plight, after controlling for participants’ SES and negative attitudes towards low-SES groups. In the second study ( N = 220), manipulating the human uniqueness of a fictitious low-SES group affected support for wealth redistribution measures through blame. These results indicate that animalizing low-SES groups reduces support for wealth redistribution via blaming low-SES groups for their situation.

scholarly journals Price-Level Changes and the Redistribution of Nominal Wealth across the Euro Area

2015 ◽  
Vol 14 (4) ◽  
pp. 871-906 ◽  
Author(s):  
Klaus Adam ◽  
Junyi Zhu
Keyword(s):  
Middle Class ◽  
Euro Area ◽  
Price Level ◽  
Household Finance ◽  
Wealth Inequality ◽  
Considerable Heterogeneity ◽  
Wealth Redistribution ◽  
High Inflation ◽  
Per Capita ◽  
Consumption Survey

Abstract We show that unexpected price-level movements generate sizable wealth redistribution in the Euro Area (EA), using sectoral accounts and newly available data from the Household Finance and Consumption Survey. The EA as a whole is a net loser of unexpected price-level decreases, with Italy, Greece, Portugal, and Spain losing most in per capita terms, and Belgium and Malta being net winners. Governments are net losers of deflation, while the household (HH) sector is a net winner in the EA as a whole. HHs in Belgium, Ireland, Malta, and Germany experience the biggest per capita gains, while HHs in Finland and Spain turn out to be net losers. Considerable heterogeneity exists also within the HH sector: relatively young middle class HHs are net losers of deflation, while older and richer HHs are winners. As a result, wealth inequality in the EA increases with unexpected deflation, although in some countries (Austria, Germany, and Malta) inequality decreases due to the presence of relatively few young borrowing HHs. We document that HHs’ inflation exposure varies systematically across countries, with HHs in high-inflation EA countries holding systematically lower nominal exposures.

Explaining Judicial Authority in Dominant-Party Democracies: The Case of the Constitutional Court of South Africa

2019 ◽  
Author(s):  
David K. Ma
Keyword(s):  
South Africa ◽  
South African ◽  
Constitutional Court ◽  
Constitutional Courts ◽  
Business Elites ◽  
Dominant Party ◽  
Judicial Appointments ◽  
Wealth Redistribution ◽  
Determining Factor

Why do authoritative constitutional courts sometimes thrive even in dominant-party regimes? This article identifies as a key determining factor the constitutional entrenchment of wealth redistribution via private corporate equity transfers. Since the policy threatens private capital, the dominant party would want to avoid massive capital flight by credibly committing to a restrained practice of indirect expropriation through an authoritative constitutional court that can apply a brake to the policy when it goes too far. The analysis is based on an in-depth case study of the Constitutional Court of South Africa. The empirical research includes conducting an expert survey on judicial appointments that tests a crucial observable implication of the theory, as well as performing process tracing that involves interviewing South African business elites.

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