Konvolut Wealth and Income Distribution 1

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Konvolut Wealth and Income Distribution 1

Author:: Steindl, Josef

Scope:: Konvolut aus handschriftlichen und maschinenschriftlichen Blättern (insgesamt 70 Blätter)

Year of publication:: 1975

Source material date:: [vermutlich um 1975]

Language:: English

Note:: Das Konvolut enthält handschriftliche Tabellen, graphische Darstellungen der Berechnungen auf Millimeterpapier, Teile eines Papers (Typoskript) mit Seitennummerierung 8-25 sowie mehrere Blätter mit handschriftlichen Notizen.

Topic:: Stochastic processes and size distribution

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

Shelfmark:: S/M.27.1

Use and reproduction license:: In Copyright

Access:: Free access

DOI:: https://doi.org/10.48671/nls.js.AC14446148

19 II, Earned Income In dealing with unearned income, wealth had been used as a state variable. It is natural to extend this idea. Incone depends also on education, training, status, family connections etc, which are in a sense inherited like wealth, and result from a sort of "-investment" of income by preceding generations, On an abstract level we can speak of "income potential” which embodies all the forms of "Investment" mentioned. There are certain differences between the various forms of income poten tial: Education is passed on to the children as they grow up, while the inheritance of wealth has usually to wait for the death of the parent. It is tempting to speculate pn on equalization of the rate of return between the different forms of investment} this would make it easy to generalize results on the distri bution of income. We know, however, that equalization of return is not likely. And we must beware of drawing to close a parallel between material wealth and educational investment. It seems that beyond a certain range It Is less and les3 easy to increase educational investment further. Of course, there is no absolute limit: Indeed there are always possibilities of further investment (in learning on the dob), and the quality of

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