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Dividing the Spoils : Pensions, Privatization and Reform in Russia...

By: Ethan B. Kapstein; Branko Milanovic

Economics

The paper presents a political economy model where policy is the outcome of an interaction between three actors: government (G), managers and workers (W), and transfer-recipients (P). The government has the objective to stay in power and needs support of either P or W. It can choose a slow privatization with little asset-stripping and significant taxation, and thus protect its fiscal base out of which it pays pensioners relatively well (as in Poland). Or, differently, li...

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True World Income Distribution, 1988 and 1993 : First Calculation ...

By: Branko Milanovic

Economics

The issues of income inequality have gained increased prominence in the last decade. There are several reasons for this. Some are empirical: increasing inequality in Western countries in 1980s, then an `explosion' of inequality in transition economies in the 1990's. Others are `theoretical': economic theory is able to incorporate the issues of inequality better today than a few decades ago. There is greater interest in the growth-equality relationship (Lundberg and Squir...

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Papers Relating to Political Economy Volume Iii

By: Edgeworth, F. Y.

Economics in general ; SOCIAL SCIENCES ; Economics

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History and Criticism of the Labor Theory of Value in English Poli...

By: Albert C. Whitaker

Economic Theory Literature

Excerpt: Chapter I. General Outlines of the History of the Labor Theory of Value. 1. The following history of the labor theory of value begins with Adam Smith, not because it is supposed that Political Economy was born with the Wealth of Nations, but because no other work written affords so convenient a starting-point to the historian who has no desire to press his investigations into regions too remote from modern interests. After Adam Smith, the writers to be considere...

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Bibliography of Economics for 1909 : A Cumulation of Bibliography ...

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