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Industrial Interests versus Class Interests: Conflicts over Income Distribution in the Economic Development of Japan and Brazil

In: The Institutional Foundations of East Asian Economic Development

Author

Listed:
  • Juro Teranishi

    (Hitotsubashi University)

  • Vittorio Corbo

    (Universidad Catolica De Chile)

Abstract

This chapter is concerned with the pattern of interaction between the state and the private sector regarding income distributional conflicts. A competitive market cannot attain maximum social welfare when the production factor is poorly distributed. Moreover, state interventions in the presence of market failures tend to affect income distribution through creating quasi rents. For these two reasons, people form coalitions or groups depending on class, industrial, ethnic, religious or regional identities and various groups in the private sector try to exert influence on the state in order to realize income distribution favourable to them. What is important here is that the pattern of representation of distributional interests differs considerably among countries, and the differences seem to entail important consequences for the economic performance of each country.

Suggested Citation

  • Juro Teranishi & Vittorio Corbo, 1998. "Industrial Interests versus Class Interests: Conflicts over Income Distribution in the Economic Development of Japan and Brazil," International Economic Association Series, in: Yujiro Hayami & Masahiko Aoki (ed.), The Institutional Foundations of East Asian Economic Development, chapter 10, pages 285-317, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-26928-0_10
    DOI: 10.1007/978-1-349-26928-0_10
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