Capitalists, Workers, and Fiscal Policy : A Classical Model of Growth and Distribution / Thomas R. Michl.
Michl, Thomas R., author.
2009
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Title Capitalists, Workers, and Fiscal Policy : A Classical Model of Growth and Distribution / Thomas R. Michl.
Author Michl, Thomas R., author.
ISBN 9780674275348
DOI https://doi.org/10.4159/9780674275348
Published Cambridge, MA : Harvard University Press, [2009]
Copyright ©2009
Language English
Language Note In English.
Description 1 online resource (320 p.)
Other Standard Identifiers 10.4159/9780674275348 doi
Dewey Decimal Classification 330.1
Summary Drawing on the work of the classical-Marxian economists and their modern successors, Capitalists, Workers, and Fiscal Policy sets forth a new model of economic growth and distribution, and applies it to two major policy issues: public debt and social security. The book homes in specifically on the problem of fiscal policy, examining the ways that taxation and government spending affect the distribution of wealth and income as well as the rate of economic growth. Thomas Michl's model shows that public debt has a regressive effect on wealth distribution. It also demonstrates that the accumulation of wealth by public authorities, for example, in the form of a pension reserve such as the U.S. social security trust fund, can have a progressive effect on wealth distribution, both directly (since it represents ownership by the citizenry) and indirectly through its general equilibrium effects on the structure of accumulation. The book's findings provide an analytical foundation for a macroeconomic policy of using fiscal surpluses to accumulate a public pension reserve fund that serves to effect a progressive redistribution of wealth.
Access Note Access limited to authorized users.
System Details Note Mode of access: Internet via World Wide Web.
Digital File Characteristics text file PDF
Source of Description Description based on online resource; title from PDF title page (publisher's Web site, viewed 01. Dez 2022)
In HUP eBook Package Archive 1893-1999
Harvard University Press eBook Package Backlist 2000-2013
Linked Resources Online Access
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Frontmatter
Contents
List of Figures
List of Tables
Preface
Main Symbols
Part I. From the Short Run to the Long
1 Introduction: Toward a Classical Growth Model
2 The Nature of the Long Run
Part II. Long-run Models of Fiscal Policy
3 A Two-Class Model
4 Saving and the Class Structure
5 Debt and Endogenous Growth
6 Debt and Exogenous Growth
7 Pensions and Endogenous Growth
8 Pensions and Exogenous Growth
9 Optimal Policy
Part III. Technical Change and the Production Function
10 Fossil Production Function: Theory
11 Fossil Production Function: Evidence
Part IV. Summary
12 Fiscal Policy Reconsidered
References
Author Index
Subject Index

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