@article{1479394,
      recid = {1479394},
      author = {Michl, Thomas R., },
      title = {Capitalists, Workers, and Fiscal Policy : A Classical  Model of Growth and Distribution /},
      pages = {1 online resource (320 p.)},
      abstract = {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.},
      url = {http://library.usi.edu/record/1479394},
      doi = {https://doi.org/10.4159/9780674275348},
}