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Predation, Efficiency, and Inequality

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  • Herschel I. Grossman
  • Minseong Kim

Abstract

This paper analyzes a general-equilibrium model in which each person can choose to be either a producer or a predator. This model shows how predation breaks the link between the interpersonal distribution of productive resources and the inter-personal distribution of consumption. Specifically, we find that in this model the Rawlsian criterion of maximizing the expected consumption of the least advantaged person selects an unegalitarian distribution of productive resources in which a positive fraction of people have only the minimum possible endowment of productive resources. Also, an egalitarian distribution of productive resources is not even Pareto efficient.

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Bibliographic Info

Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.

Volume (Year): 158 (2002)
Issue (Month): 3 (September)
Pages: 393-

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Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200209)158:3_393:peai_2.0.tx_2-o

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  1. Grossman, Herschel I & Kim, Minseong, 1995. "Swords or Plowshares? A Theory of the Security of Claims to Property," Journal of Political Economy, University of Chicago Press, vol. 103(6), pages 1275-88, December.
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Cited by:
  1. Rodolfo Apreda, 2004. "Corporate Rent-Seeking and the managerial soft-budget constraint," CEMA Working Papers: Serie Documentos de Trabajo. 283, Universidad del CEMA.
  2. Herschel Grossman, 2000. "Inventors and Pirates:Creative Activity and Intellectual Property Rights," Working Papers 2000-14, Brown University, Department of Economics.
  3. Dieter Bös & Martin Kolmar, 2000. "Anarchy, Efficiency and Redistribution," Bonn Econ Discussion Papers bgse10_2000, University of Bonn, Germany.
  4. Herschel I. Grossman & Minseong Kim, 1998. "Human Capital and Predation: A Positive Theory of Educational Policy," NBER Working Papers 6403, National Bureau of Economic Research, Inc.
  5. Herschel I. Grossman, 1998. "Producers and Predators," Working Papers 98-6, Brown University, Department of Economics.
  6. Herschel I. Grossman, 1997. ""Make Us a King": Anarchy, Predation, and the State," NBER Working Papers 6289, National Bureau of Economic Research, Inc.
  7. Shankha Chakraborty & Era Dabla-Norris, 2005. "Rent Seeking," IMF Working Papers 05/43, International Monetary Fund.
  8. H. I. Grossman & M. Kim, 1999. "Educational Policy: Egalitarian or Elitist?," Working Papers 365, Dipartimento Scienze Economiche, Universita' di Bologna.
  9. Kolmar, Martin, 2005. "The contribution of Herschel I. Grossman to political economy," European Journal of Political Economy, Elsevier, vol. 21(4), pages 802-814, December.

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