IDEAS home Printed from https://ideas.repec.org/a/bla/coecpo/v34y2016i3p399-402.html
   My bibliography  Save this article

Capital And Inequality

Author

Listed:
  • James A. Mirrlees

Abstract

type="main"> Wealth inequality comes about mainly as a result of lifetime accumulation of capital and risky investment. Evidence from the Forbes Rich Lists show that in recent years volatility of the wealth of the richest has been very great. Randomness of returns to capital can explain a substantial part of global wealth inequality. As a consequence, inequality can best be reduced by a tax on returns to capital in excess of a normal rate of return, in addition to tax on labor earnings. (JEL D31)

Suggested Citation

  • James A. Mirrlees, 2016. "Capital And Inequality," Contemporary Economic Policy, Western Economic Association International, vol. 34(3), pages 399-402, July.
  • Handle: RePEc:bla:coecpo:v:34:y:2016:i:3:p:399-402
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1111/coep.2016.34.issue-3
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Riccardo De Bonis, 2016. "What Piketty said in Capital in the Twenty-first Century and how economists reacted," Mo.Fi.R. Working Papers 130, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    2. repec:bla:coecpo:v:35:y:2017:i:1:p:26-28 is not listed on IDEAS

    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:coecpo:v:34:y:2016:i:3:p:399-402. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley Content Delivery) or (Christopher F. Baum). General contact details of provider: http://edirc.repec.org/data/weaaaea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.