The Personal Distribution of Income

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: The Personal Distribution of Income

Author:: Steindl, Josef

Scope:: Typoskript, 28 Seiten

Year of publication:: 1972

Source material date:: August-September 1972

Language:: English

Note:: Mit handschriftlichen Anmerkungen.

Related work:: Steindl, Josef: The Personal Distribution of Income. In: Steindl, Josef: Economic Papers 1941-88. London: Macmillan, 1990, S. 356-371

Topic:: Stochastic processes and size distribution

JEL Classification:: D31 [Personal Income, Wealth, and Their Distributions]

Shelfmark:: S/M.2.1

Access:: Free access

24 The transitim probabilities will also reflect long run develop ments: Growth, organisational changes and innovations etc. After the explicit introduction of time (age, and also "historical" time) the model could also be made more realistic by making the span of control as well as the income relation b into random variable. The pattern of the explanation could then, X think, be extended from the managers to other groups of income earners. So far we have only refered to the separate groups (like managers etc) each of which is represented by a dimension in the hierarchy space. The relation between these dimensions remains open, and therefore also the question how these separate distributions combine into a total income distribution which still shows the familiar Pareto pattern. Prima facie the relation between the various hierarchy dimensions is undetermined; our society does not definitly rank business managers, doctors, officers etc. The only common denominator is income. There is, however, some sort of vague hierarchy of the hierarchies themselves, indicated by the mean income and by the inequality as measured by the Pareto coefficient. On both counts wealth is at the top of the hierarchies; the stars, the managers and some professions follow in a rather uncertain order. By and large, however, you will find the groups with lower mean income also have higher Pareto coefficient and are larger groups. 1 should insist on the greatly irrational (or "traditional")

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