Status and income inequality in a knowledge economy

Status and income inequality in a knowledge economy

This paper models a market for status contained in a knowledge economy. Technological progress favours the knowledge sector and inequality of income rises with productivity. We show that the expected utility of all agents can fall while output and productivity grow; and such an outcome of “immiseriz...

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Veröffentlicht in:Journal of economic inequality 2014-12, Vol.12 (4), p.581-595
1. Verfasser: Peng, Baochun
Format: Artikel
Sprache:eng
Schlagworte:
Consumption
Development Economics
Economic Growth
Economic models
Economic theory
Economics
Economics and Finance
Expected utility
Global economy
Growth models
Income distribution
Income inequality
International
International Economics
Knowledge
Knowledge economy
Political Science
Productivity
Public Finance
Studies
Technological change
Time series
Tournaments & championships
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Beschreibung
Zusammenfassung:This paper models a market for status contained in a knowledge economy. Technological progress favours the knowledge sector and inequality of income rises with productivity. We show that the expected utility of all agents can fall while output and productivity grow; and such an outcome of “immiserizing growth” hinges crucially upon the combination of concern for status and technology-induced rises in inequality.
ISSN:1569-1721
1573-8701
DOI:10.1007/s10888-014-9274-y