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On the Growth-Maximizing Distribution of Income

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  • Robson, Arthur J
  • Wooders, Myrna

Abstract

This paper presents an unconventional argument based on population growth to bolster marginal productivity theory. There is an economy with a single output produced from a number of different types of labor. Each type of labor is reproduced from that type itself and from the amount of the output devoted to it under some income distributional norm. Any norm which fails to induce convergence to maximal balanced growth is growth dominated, in that the population and income it induces can be overwhelmed eventually. On the maximal balanced growth path, the norm divides output according to marginal productivity. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Suggested Citation

  • Robson, Arthur J & Wooders, Myrna, 1997. "On the Growth-Maximizing Distribution of Income," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 511-526, August.
    • Handle: RePEc:ier:iecrev:v:38:y:1997:i:3:p:511-26
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    References listed on IDEAS

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    1. Lucas, Robert E, Jr, 1992. "On Efficiency and Distribution," Economic Journal, Royal Economic Society, vol. 102(411), pages 233-247, March.
    2. Oded Galor & Joseph Zeira, 1993. "Income Distribution and Macroeconomics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(1), pages 35-52.
    3. Davis, Eric, 1969. "A Modified Golden Rule: The Case with Endogenous Labor Supply," American Economic Review, American Economic Association, vol. 59(1), pages 177-181, March.
    4. Hansson, Ingemar & Stuart, Charles, 1990. "Malthusian Selection of Preferences," American Economic Review, American Economic Association, vol. 80(3), pages 529-544, June.
    5. Roland Benabou, 1994. "Education, Income Distribution and Growth: The Local Connection," NBER Working Papers 4798, National Bureau of Economic Research, Inc.
    6. Roy Radner, 1961. "Prices and the Turnpike: III. Paths of Economic Growth that are Optimal with Regard only to Final States: A Turnpike Theorem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 28(2), pages 98-104.
    7. Andrew Atkeson & Robert E. Lucas, 1992. "On Efficient Distribution With Private Information," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(3), pages 427-453.
    8. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1.
    9. Rogers, Alan R, 1994. "Evolution of Time Preference by Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 460-481, June.
    10. Joan Robinson, 1962. "A Neo-Classical Theorem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 29(3), pages 219-226.
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    Cited by:

    1. Grafen, Alan, 2000. "A biological approach to economics through fertility," Economics Letters, Elsevier, vol. 66(3), pages 241-248, March.
    2. David K. Levine & Salvatore Modica & Federico Weinschelbaum & Felipe Zurita, 2015. "Evolution of Impatience: The Example of the Farmer-Sheriff Game," American Economic Journal: Microeconomics, American Economic Association, vol. 7(3), pages 295-317, August.
    3. Edward Cartwright & Myrna Wooders, 2008. "Behavioral Properties of Correlated Equilibrium; Social Group Structures with Conformity and Stereotyping," Vanderbilt University Department of Economics Working Papers 0814, Vanderbilt University Department of Economics.
    4. Brian O'Reilly, 1998. "The Benefits of Low Inflation: Taking Shock "A nickel ain't worth a dime any more" [Yogi Berra]," Technical Reports 83, Bank of Canada.
    5. Wooders, Myrna & van den Berg, Hugo, 2001. "Female competition, evolution, and the battle of the sexes," Economic Research Papers 269394, University of Warwick - Department of Economics.

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