Chapter

The Generation and Distribution of Wealth

Tsuneo Ishikawa

in Income and Wealth

Published in print February 2002 | ISBN: 9780198288626
Published online November 2003 | e-ISBN: 9780191596469 | DOI: http://dx.doi.org/10.1093/019828862X.003.0007
 The Generation and Distribution of Wealth

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This chapter discusses the basic determinants of the generation of wealth and its distribution across households; it has four sections. Section 7.1 considers the life cycle motive as a basis of household saving behaviour, paying particular attention to the role played by the pension annuity system. Section 7.2 discusses the role of education in transmitting wealth between parents and children. Section 7.3 turns to the topic of macroeconomics and looks at how the rate of return is determined in the long term, thereby showing how the theoretical discussions in this book form a general equilibrium framework. Section 7.4 takes up the question of asset and related expectations––asset price fluctuation is considered one of the major causes of generation of huge wealth in the short term, but there are various conflicting dimensions to this problem.

Keywords: asset price fluctuation; asset prices; education; household saving behaviour; income distribution; life cycle; macroeconomics; rate of return; wealth; wealth distribution; wealth generation

Chapter.  41600 words.  Illustrated.

Subjects: Public Economics

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