Chapter

Other Major Issues: Growth, Scale Effects and Inequality

Dipankar Dasgupta

in Modern Growth Theory

Published in print November 2010 | ISBN: 9780198069966
Published online October 2012 | e-ISBN: 9780199080458 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198069966.003.0008
Other Major Issues: Growth, Scale Effects and Inequality

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This chapter examines two important developments in endogenous growth theory: the scale effect of human capital on economic growth and two models that were developed to assess the impact of growth on inequality and vice versa. It discusses the problem from the point of view of political economy, describes an overlapping generation model where agents are endowed with bequest motives to derive the long-run implications for income distribution, and considers private economy vs. command economy. It also analyses the link between tax rate and growth rate.

Keywords: economic growth; scale effect; inequality; human capital; political economy; overlapping generation model; income distribution; private economy; tax rate; command economy

Chapter.  5175 words. 

Subjects: Macroeconomics and Monetary Economics

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