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Gimpelson and Treisman: Misperceiving Inequality

December 3, 2015

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Dual-Polarization Box and Economic Regimes

October 16, 2017

Summary: The present study has the objective to compare different capitalist
systems by focusing on specific distributional features of the latter.
Particularly, the distribution of income sources, notably of profits and wages,
as well as the distribution of total consumption and savings across the
population will be considered. In order to make the analysis possible, the
article hinges on a recent work by Ranaldi (2017a, 2017b) on the distribution
of functional income. In particular, the methodology proposed by Ranaldi,
which develops an index of income factors polarization, is adopted to shed
new light on the distribution of savings and consumptions among people.
Therefore, a measure of saving and consumption polarization is introduced,
together with a new instrument called Dual-Polarization Box. The latter
allows for a joint analysis of the two polarization issues. Indeed, the Dual-
Polarization Box is a 1 × 1 box which displays all possible combinations of
the two indexes for a given society at a point in time. According to their
position in the box, societies can be classified as Classical Capitalism, or
Representative Agent Capitalism. It is shown that the box provides further
insights on the capital accumulation process underlying several models of
capitalism.

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