Full text: The Personal Distribution of Income

this approach* slM distribution la o temaforaod age 
distribution* and the pattern ot the far©to law eppeere 
Ut- i4c&h***h**' vUeI«i **■ 
«o of ten / simply bwiaH of Hi* onpfrlcel iapaartmoQ of 
©spcuMOtlol growth which laaioc x>th tbs age distribution 
and Wm tronfCroatian funotlon iipc—atliil# Owing to the 
conceptual density of itmiinrinana* n aodtl the two 
©laments of life- cycle and promotion ero aergod into 
(which resides 
' , 9 .:?* . „ .: .: A ; : r. ns; 
In the fora$ between Cbcsqperoouno'a oodel end Use others* 
dinco physical persons sooner or Inter die* the ago in 
Ms nodal la United* while in the others (reXatiHG to 
firm or wealth) there is always the probability of 
virtually infinite life which accounts for ® very 
peculiar eliswnstar of the steady states ecooersad 
:\irs:x,y CCTOO. 
Me nay consider the following stage© is the treatment of 
the iso-one diotrlbutioni 
I • 05,-ii.gjamoune “ a nodal• 
XX« Sutherford'e aedel /~*10 J* Be trestsd persona f liie~ 
tines explicitly# 
do vi~ 7) '. • 
First* income is not very suitable as © state variable 
for a Ifer’zov process# It does not ©sbody the !t influence

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