Please define and discuss the significance of the following concepts within your reading groups:
- Economic growth
- National income
- Labour income
- Capital income
- Capital (wealth)
- Capital/income ratio (β)
- Top decile
- Top centile
What is the difference between:
- Private capital
- Public capital
What has been the main structural transformation of capital since the 19th century?
Describe the trends in the:
- Ownership of capital/wealth
- Inequalities of income
What is the significance of R>G for the study of wealth inequality?
- Which explains rising income inequality in the USA?
What explains the comeback of private capital since the 1970’s?
- What institutions shape labour income inequality?
- What institutions shape capital-wealth inequality?
Is rising income and wealth inequality compatible with democracy?