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Property Rights and Income Inequality

Author

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  • Van, Germinal

Abstract

The purpose of this paper is to analyze the impact that property rights exert on income inequality. It has been widely argued that income inequality is one of the catalysts of poverty and economic disparities between the haves and the have-nots. Moreover, advocates in favor of economic planning and government intervention have contended that one of the methods to reduce income inequality is for the state to play a redistributive role such as imposing a wealth tax, a progressive income tax, or even imposing a minimum wage. Although these measures portray genuine intentions, the overwhelming empirical evidence shows that these well-intended policies generated adversarial results. This paper argues that income inequality is a normal, natural, and mandatory characteristic for the economic development of civil society. This paper intends to demonstrate that income inequality is not inherently a predicament for the economic evolution of the citizenry but a necessary condition to ensure their growth. To demonstrate the validity of arguments, we intended to use statistical methods as illustrative and communicative tools of analysis rather than predictive tools.

Suggested Citation

  • Van, Germinal, 2021. "Property Rights and Income Inequality," MPRA Paper 105195, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:105195
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    File URL: https://mpra.ub.uni-muenchen.de/105195/1/MPRA_paper_105195.pdf
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    References listed on IDEAS

    as
    1. Joseph Persky, 1991. "Retrospectives: Lange and von Mises, Large-Scale Enterprises, and the Economic Case for Socialism," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 229-236, Fall.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic Theory; Econometrics; Property Rights; Economic Growth; Income Inequality;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights

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