Inequality and institutions in 20th century America:

We provide a comprehensive view of widening income inequality in the United States contrasting conditions since 1980 with those in earlier postwar years. We argue that the income distribution in each period was strongly shaped by a set of economic institutions. The early postwar years were dominated...

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Bibliographic Details
Main Authors: Levy, Frank 1941- (Author), Temin, Peter 1937- (Author)
Format: Book
Language:English
Published: Cambridge, Mass. National Bureau of Economic Research 2007
Series:Working paper series / National Bureau of Economic Research 13106
Online Access:Volltext
Summary:We provide a comprehensive view of widening income inequality in the United States contrasting conditions since 1980 with those in earlier postwar years. We argue that the income distribution in each period was strongly shaped by a set of economic institutions. The early postwar years were dominated by unions, a negotiating framework set in the Treaty of Detroit, progressive taxes, and a high minimum wage -- all parts of a general government effort to broadly distribute the gains from growth. More recent years have been characterized by reversals in all these dimensions in an institutional pattern known as the Washington Consensus. Other explanations for income disparities including skill-biased technical change and international trade are seen as factors operating within this broader institutional story.
Item Description:Literaturverz. S. 43 - 47
Physical Description:53 S. graph. Darst. 22 cm

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