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Income Modeling and Balancing - A Rigorous Treatment of Distribution Patterns (Paperback, 2015 ed.)
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Income Modeling and Balancing - A Rigorous Treatment of Distribution Patterns (Paperback, 2015 ed.)
Series: Lecture Notes in Economics and Mathematical Systems, 679
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This book presents a rigorous treatment of the mathematical
instruments available for dealing with income distributions, in
particular Lorenz curves and related methods. The methods examined
allow us to analyze, compare and modify such distributions from an
economic and social perspective. Though balanced income
distributions are key to peaceful coexistence within and between
nations, it is often difficult to identify the right kind of
balance needed, because there is an interesting interaction with
innovation and economic growth. The issue of justice, as discussed
in Thomas Piketty's bestseller "Capital in the Twenty-First
Century" or in the important book "The Price of Inequality" by
Nobel laureate Joseph Stiglitz, is also touched on. Further, there
is a close connection to the issue of democracy in the context of
globalization. One highlight of the book is its rigorous treatment
of the so-called Atkinson theorem and some extensions, which help
to explain under which type of societal utility functions nations
tend to operate either in the direction of more balance or less
balance. Finally, there are some completely new insights into
changing the balance pattern of societies and the kind of
coalitions between richer and poorer parts of society to organize
political support in democracies in either case. Oxford
University's Sir Tony Atkinson, well known for his so-called
Atkinson theorem, writes in his foreword to the book: "[The
authors] contribute directly to t he recent debates that are going
on in politics. [...] with this book the foundation of arguments
concerning a proper balance in income distribution in the sense of
identifying an 'efficient inequality range' has got an additional
push from mathematics, which I appreciate very much."
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