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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Social instability and redistribution of income |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | European Journal of Political Economy |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 0176-2680 |
| Volume | 15 |
| Number | 1 |
| Page Range | 35 - 51 |
| Date | 1999 |
| Abstract Text | Rational agents can express discontent with a given distribution of income by threatening to disrupt an economy, if such a threat is profitable. This paper describes such circumstances in a two-class model. Social stability constraints define the acceptable set of income distributions, the range of which is determined by the extent to which income-generating abilities are vulnerable to disruption. Opportunities for disruption vary across stages of economic development. There is possibly no stable distribution in a low developed economy, whereas in an advanced economy, characterized by complex and interdependent production, stable distributions exist. This distinction provides a basis for the observed increasing significance of social stabilization by redistributive policy in the course of economic development. |
| Digital Object Identifier | 10.1016/S0176-2680(98)00039-1 |
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