Show Less
You do not have access to this content

Approaching Equality

What Can Be Done About Wealth Inequality?

Roger A. McCain

Drawing on some recent research (especially that of Piketty and his associates) and on older ideas (particularly from Sir Arthur Lewis), Roger McCain proposes policies that, together, would aim to reverse the observed tendency towards the concentration of wealth in market economies, thus ‘approach equality.’ The shortcomings and dangers of rising wealth inequality are discussed, both from the point of view of increasing instability and of equalitarian values.
Show Summary Details
This content is available to you

References

What Can Be Done About Wealth Inequality?

Roger A. McCain

Acemoglu, Daron (2002), “Technical Change, Inequality, and the Labor Market,” Journal of Economic Literature, 40(1), 7–72
Amabile, T.M. and E. Tighe (1993), “Questions of Creativity,” in J. Brockman (ed.), Creativity: The Reality Club 4, New York: Simon & Schuster
Armstrong, W.E. (1939), “The Determinateness of the Utility Function,” Economic Journal, 49(195) (Sept.), 453–67
Arnold, Robert, Vance C. Smith, John Q. Doan, Rodney N. Barry, Jayme L. Blakesley, Patrick T. DeCorla-Souza, Mark F. Muriello, Gummada N. Murthy, Patty K. Rubstello, and Nick A. Thompson (2010), Reducing Congestion and Funding Transportation Using Road Pricing in Europe and Singapore, US Department of Transportation Federal Highway Administration
Atkinson, A.B. and Joseph E. Stiglitz (1969), “A New View of Technological Change,” Economic Journal, 79(315) (Sept.), 573–8
Atkinson, Sir Anthony (2015), Inequality: What Can be Done, Cambridge, MA: Harvard University Press
Averch, Harvey and Leland L. Johnson (1962), “Behavior of the Firm Under Regulatory Constraint,” American Economic Review, 52(5) (Dec.), 1052–69
Barro, Robert J. (1974), “Are Government Bonds Net Wealth?,” Journal of Political Economy, 82(6) (Nov. –Dec.), 1095–117
Bartlett, Will, John Cable, Saul Estrin, Derek Jones, and Stephen Smith (1992), “Labor-managed Cooperatives and Private Firms in North Central Italy: An Empirical Comparison,” Industrial and Labor Relations Review, 46(1) (Oct.), 103–18
Bator, Francis (1957), “The Simple Analytics of Welfare Maximization,” American Economic Review, 47(1) (Mar.), 22–59
Bator, Francis (1958), “The Anatomy of Market Failure,” QuarterlyJournal of Economics, 72(3) (Aug.), 351–79
Baumol, William J. (1953), “Firms with Limited Money Capital,” Kyklos, 6(2), 119–31
Baumol, William J. (1967), “Macroeconomics of Unbalanced Growth: The Anatomy of Urban Crises,” American Economic Review, 57(3) (Jun.), 415–26
Baumol, William J. (1972), “On Taxation and the Control of Externalities,” American Economic Review, 62, 307–22
Baumol, William J. (1986), Superfairness: Applications and Theory, Cambridge, MA: MIT Press
Baumol, William J. (1999), “Retrospectives: Say’s Law,” Journal of Economic Perspectives, 13(1) (Winter), 195–204
Baumol, William J. (2012), The Cost Disease: Why Computers Get Cheaper and Health Care Doesn’t, New Haven, CT: Yale University Press
Baumol, William J. and William Bowen (1966), The Performing Arts: TheEconomic Dilemma, New York: Twentieth Century Fund
Becker, Gary (1958), “Competition and Democracy,” Journal of Law and Economics, 1 (Oct.), 105–9
Becker, Gary (1965), “A Theory of the Economics of Time,” Economic Journal, 75(3) (Sept.), 493–517
Bellas, Carl (1972), Industrial Democracy and the Worker-Owned Firm: AStudy of Twenty-One Plywood Companies in the Pacific Northwest, New York: Praeger
Bergson, Abram (1938), “A Reformulation of Certain Aspects of Welfare Economics,” Quarterly Journal of Economics, 52 (Feb.), 310–34
Berman, K.V. (1967), Worker-Owned Plywood Companies, Pullman, WA: Washington State University
Bernstein, Paul (1976), Workplace Democratization: Its Internal Dynamics, Kent, OH: Kent State University Press
Blanc, Louis (1840), The Organization of Labor, available at www.milestonedocuments.com/documents/view/louis-blanc-the-organization-of-labor/text
Blanc, Louis (1851), Plus de Girondins, Paris: Charles Joubert
Boden, Margaret A. (1991), The Creative Mind: Myths and Mechanisms, New York: BasicBooks
Bourjade, Sylvain and Laurent Germaine (2012), “Collusion in Board of Directors,” paper presented at the Congrès AFSE 2012, Université Panthéon-Assas
Brecher, Jeremy (1972), Strike!, San Francisco, CA: Straight Arrow Books
Buber, Martin (1949), Paths in Utopia, Boston, NJ: Beacon
Buchanan, James (1986), “Prize Lecture: The Constitution of Economic Policy,” The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, available at www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1986/buchanan-lecture.html
Burdín, Gabriel and Andrés Dean (2009), “New Evidence on Wages and Employment in Worker Cooperatives Compared with Capitalist Firms,” Journal of Comparative Economics, 37, 517–35
Cable, John and F. Fitzroy (1980), “Productivity, Efficiency, Incentives and Employee Participation,” Kyklos, 33, 100–21
Cannan, Edwin (1933), Economic Scares, London: P. S. King
Canterbury, E. Ray (2011), A Brief History of Economics, 2nd edn, World Scientific
Card, David (1995), “Time-Series Minimum-Wage Studies: A Metaanalysis,” American Economic Review, 85, 238–43
Card, David and Alan B. Krueger (1994), “Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania,” American Economic Review, 84(4) (Sept.), 772–93
Chavas, J.P. (1994), “Equity Considerations in Economic and Policy Analysis,” American Journal of Agricultural Economics, 76(5) (Dec.), 1022–33
Chellas, Brian (1980), Modal Logic: An Introduction, Cambridge: Cambridge University Press
Clark, Gordon (2000), Pension Fund Capitalism, Oxford: Oxford University Press
Clark, John Bates (1891), “Distribution as Determined by a Law of Rent,” Quarterly Journal of Economics (Apr.)
Clark, John Bates (1899), The Distribution of Wealth, New York: Macmillan
Clemente, Jesús, Millán Diaz-Foncea, Carmen Marcuello, and Marcos Sanso-Navarro (2012), “The Wage Gap Between Cooperative and Capitalist Firms: Evidence from Spain,” Annals of Public and Cooperative Economy, 83(3) (Sept.), 337–56
Cole, G.D.H. (1920), Guild Socialism Restated, New Brunswick, NJ: Transaction Books
Craig, Ben and John Pencavel (1992), “The Behavior of Worker Cooperatives: The Plywood Companies of the Pacific Northwest,” American Economic Review, 82(5) (Dec.), 1083–105
Craig, Ben and John Pencavel (1993), “The Objectives of Worker Cooperatives,” Journal of Comparative Economics, 17, 288–308
Craig, Ben and John Pencavel (1994), “The Empirical Performance of Orthodox Models of the Firm: Conventional Firms and Worker Cooperatives,” Journal of Political Economy, 104(4) (Aug.), 718–44
Craig, Ben and John Pencavel (1995), Participation and Productivity:A Comparison of Worker Cooperatives and Conventional Firms in the Plywood Industry, Brookings Papers on Economic Activity
Curan, Catherine (2015), “Next subprime bubble to burst: auto loans,” New York Post, February 7
Deaton, Angus (1991), “Saving and Liquidity Constraints,” Econometrica, 59(5) (Sept.), 1221–48
Deci, E.L. and R.M. Ryan (2000), “The ‘What’ and ‘Why’ of Goal Pursuits: Human Needs and the Selfdetermination of Behavior,” Psychological Inquiry, 11(4), 227–68
Defourny, J.S. (1992), “Comparative Measures of Technical Efficiency for Five Hundred French Workers’ Cooperatives,” in Derek Jones and Jan Svejnar (eds), Advances in the Economic Analysis of Participatory and Labor Managed Firms, Greenwich, CT: JAI Press, 27–62
Defourney, J.S., Saul Estrin, and Derek Jones (1985), “The Effects of Workers’ Participation on Enterprise Performance: Empirical Evidence from French Cooperatives,” International Journal of Industrial Organization, 3, 197–217
DeHaan, Cody R., Tadashi Hirai, and Richard M. Ryan (2015), “Nussbaum’s Capabilities and Self-Determination Theory’s Basic Psychological Needs: Relating Some Fundamentals of Human Wellness,” Journal of Happiness Studies (Oct.)
Dilger, Robert Jay (2013), Small Business Administration 7(a) LoanGuaranty Program, Congressional Research Service
Djilas, Milovan (1957), The New Class, London: Thames and Hudson
Domar, Evsey (1946), “Capital Expansion, Rate of Growth and Employment,” Econometrica, 14(2) (Apr.), 137–47
Doucouliagos, Chris (1995), “Worker Participation and Productivity in Labor-Managed and Participatory Capitalist Firms: A Meta-analysis,” Industrial and Labor Relations Review, 49(1) (Oct.), 58–77
Doucouliagos, Hristos and T.D. Stanley (2009), “Publication Selection Bias in Minimum-Wage Research? A Meta-Regression Analysis,” British Journal of Industrial Relations, 47(2) (June), 406–28
Drandrakis, E. and E. Phelps (1966), “A Model of Induced Invention, Growth, and Distribution,” Economic Journal, 71, 823–40
Duffy, John, Chris Papageorgiou, and Fidel Perez-Sebastian (2004), “Capital-Skill Complementarity: Evidence from a Panel of Countries,” Review of Economics and Statistics, 86(1) (Feb.) 327–44
Easley, David and Maureen O’Hara (1983), “The Economic Role of the Nonprofit Firm,” Bell Journal of Economics, 14, 531–8
Easterlin, Richard (2004), “Explaining Happiness,” Proceedings of the National Academy of Sciences, 100, 1176–183
Edgeworth, Francis (1881), Mathematical Psychics, C. Kegan Paul
Edin, Kathryn J. and H. Luke Shaefer (2015), $2.00 a Day: Living on Almost Nothing in America, Houghton Mifflin Harcourt
Engels, Frederick (1895), “Introduction to Karl Marx’s The Class Struggles in France 1848 to 1850,” The Class Struggles in France 1848 to 1850, available at www.marxists.org/archive/marx/works/1895/03/06.htm
Estrin, Saul and Derek Jones (1992), “The Viability of Employee-Owned Firms: Evidence from France,” Industrial and Labor Relations Review, 45(2) (Jan.), 323–38
Estrin, Saul and Virginie Perotin (1987), “Producer Cooperatives: The British Experience,” International Review of Applied Economics, 1(2), 153–74
Fakhfakh, Fathi, Virginie Pérotin, and Mónica Gago (2012), “Productivity, Capital, and Labor in Labor-Managed and Conventional Firms: An Investigation on French Data,” Industrial and Labor Relations Review, 65(4) (Oct.), 847–79
Fellner, William (1966), “Profit Maximization, Utility Maximization, and the Rate and Direction of Innovation,” American Economic Review, 56(12) (Mar.) 24–32
Fitzroy, F.R and Kornelius Kraft (1993), “Efficiency and Internal Organization: Works Councils in West German Firms,” Economica, 54(216), 493–504
Flavin, M. (1985), “Excess Sensitivity of Consumption to Current Income: Liquidity Constraints or Myopia?,” Canadian Journal of Economics, 18(1) (Feb.), 117–36
Foley, Duncan K. (1967), “Resource Allocation in the Public Sector,” YaleEconomic Essays, 7 (Spring), 73–6
Friedman, Milton (1953), Essays in Positive Economics, Chicago, IL: University of Chicago Press
Friedman, Milton (1957), A Theory of the Consumption Function, Princeton, NJ: Princeton University Press
Friedman, Milton (1962), Capitalism and Freedom, Chicago, IL: University of Chicago Press
Gabriel, Mary (2011), Love and Capital, New York: Little, Brown
Geddes, R. Richard and Dimitar N. Nentchev (2013), Road Pricing and Asset Publicization, American Enterprise Institute
Girard, Keith (2007), “Business Intelligence: S.B.A. tries to conceal its role in massive loan fraud,” New York Times, December 6
Gorton, Gary and Frank A. Schmid (2004), “Capital, Labor, and the Firm: A Study of German Codetermination,” Journal of the European Economic Association, 2(5) (Sept.), 863–905
Greenspan, Alan (2001), “Testimony of Alan Greenspan,” Federal Reserve Board, available at www.federalreserve.gov/BOARDDOCS/TESTIMONY/2001/20010125/default.htm
Gross, Daniel P. (2016), Creativity Under Fire: The Effects of Competition on Creative Production, Harvard Business School, Working Paper 16-109
Gunn, C. (1992), “Plywood Cooperatives in the United States: An Endangered Species,” Economic and Industrial Democracy, 13(4) (Nov.), 525–34
Hall, Robert (1978), “Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence,” Journal of Political Economy, 86(6) (Dec.), 971–88
Hall, R.L. and C.J. Hitch (1939), “Price Theory and Business Behaviour,” Oxford Economic Papers, 1(2) (May), 12–45
Hansen, Alvin H. (1939), “Economic Progress and Declining Population Growth,” American Economic Review, 29(1) (Mar.), 1–15
Hansmann, Henry (1987), “Economic Theories of Nonprofit Organization,” in Walter W. Powell and Richard Steinberg (eds), The Nonprofit Sector: A Research Handbook, New Haven, CT: Yale University Press, 27–42
Harberger, Arnold C. (1978), “On the Use of Distributional Weights in Social Cost-Benefit Analysis,” Journal of Political Economy, 86(2.2) (Apr.), 87–120
Harrod, Roy (1939), “An Essay on Dynamic Theory,” Economic Journal, 14–63
Hayek, F.A. (1945), “The Use of Knowledge in Society,” AmericanEconomic Review, 35(4) (Sept.), 519–20
Hegel, G.W.F. (1820), Philosophy of Right, Preface, Tr. by S. W. Doyle, 1896
Hicks, J.R. (1939), “Foundations of Welfare Economics,” Economic Journal, 49(4) (Dec.), 696–712
Higgins, Benjamin (1968), Economic Development, rev. edn, New York: Norton
Hubbard, R. Glenn and Kenneth L. Judd (1986), Liquidity Constraints, Fiscal Policy, and Consumption, Brookings Papers on Economic Activity, 1–59
Jencks, Christopher (2016), “Why the Very Poor have Become Poorer,” New York Review of Books, 10 (June 9), 15–17
Jensen, Michael and William Meckling (2000), “Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure,” in Michael C. Jensen (ed.), A Theory of the Firm, Cambridge, MA: Harvard University Press, 83–135
Jones, Benjamin (1894/1968), Co-operative Production, Oxford: Clarendon Press, reprinted by Augustus M.Kelley, New York, 1968
Jones, Charles (2015), “Pareto and Piketty: The Macroeconomics of Top Income and Wealth Inequality,” Journal of Economic Perspectives, 29(1) (Winter), 29–46
Jones, Derek (1985), “The Cooperative Sector and Dualism in Command Economies: Theory and Evidence for the Case of Poland,” Advances in the Economics of Participatory and Labor-Managed Firms, 1, 195–218 Jones, Derek and D. Backus (1977), “British Producer Cooperatives in the Footwear Industry: An Empirical Evaluation of the Theory of Financing,” Economic Journal, 87, 488–510
Jones, D.C. and Jan Svejnar (1982), Participatory and Self-Managed Firms:Evaluating Economic Performance, Lexington, MA: D.C. Heath
Kaldor, Nicholas (1939), “Welfare Propositions of Economics and Interpersonal Comparisons of Utility,” Economic Journal, 49, 549–52
Kaldor, Nicholas (1956), Indian Tax Reform, Delhi, Ministry of Finance
Kalecki, Michal (1937), “The Principle of Increasing Risk,” Economica NS, 4(16) (Nov.), 440–47
Kalecki, Michal (1965), Theory of Economic Dynamics, London: Kelley Kelso, Louis O. and Mortimer Adler (1958), The Capitalist Manifesto, New York: Random House
Kelso, Louis O. and Patricia Hetter (1967), Two-Factor Theory: TheEconomics of Reality, New York: Vintage Books
Kennedy, Charles (1964), “Induced Bias in Innovation and the Theory of Distribution,” Economic Journal, 74 (Sept.), 541–7
Kennedy, Charles (1973), “A Generalisation of the Theory of Induced Bias in Technical Progress,” Economic Journal, 83(329) (Mar.), 48–57
Keynes, John Maynard (1936), The General Theory of Employment, Interest, and Money, London: Palgrave
Kolm, S.C. (1996), “The Theory of Justice,” Social Choice and Welfare, 13(2) (Apr.), 151–82
Kratochwill, Lindsey (2016), “Focus/Small Business,” Bloomberg BusinessWeek (Apr.), 47–8
Kristof, Nicholas (2016), “Why I was wrong about welfare reform,” NewYork Times, June 19, 11
Krugman, Paul (2014), “The fiscal fizzle: an imaginary budget and debt crisis,” New York Times, July 20
Krugman, Paul (2015), “Israel’s gilded age,” New York Times, March 3
Kruse, Douglas (1999), “Economic Democracy or Just Another Risk for Workers? Reviewing the Evidence on Employee Ownership and Profit Sharing,” paper presented at the Conference on Economic Democracy, Participation, and Development, Saturday, April 24, Columbia University, New York
Kruse, Douglas (2002), Research Evidence on Prevalence and Effects of Employee Ownership, National Center for Employee Ownership
Kuznets, Simon (1960), Modern Economic Growth, Rate, Structure, and Spread, New Haven, CT: Yale University Press
Lange, Oskar and Fred M. Taylor (1938), On the Economic Theory of Socialism, Benjamin Lippincott (ed.), Minneapolis, MN: University of Minnesota Press
Laris, Michael (2016), “East Coast states want to tax drivers’ travel, not their gas,” Washington Post, June 26
Lee, Ian B. (2009), “Citizenship and the Corporation,” Law and SocialInquiry, 34(1) (Winter), 129–69
Lewis, W.A. (1969/1949), Principles of Economic Planning, London: Allen and Unwin
Lindbeck, Assar and Dennis J. Snower (2001), “Insiders Versus Outsiders,” Journal of Economic Perspectives, 15(1) (Winter), 165–88
López Bernardo, Javier, Félix López Martínez, and Engelbert Stockhammer (2014), A Post-Keynesian Response to Piketty’s “Fundamental Contradiction of Capitalism,” Working Paper 1411, Post Keynesian Economics Study Group
Lord, Jeffry (2009), “The Importance of Jack Kemp,” The American Spectator, available at http://spectator.org/articles/42349/importance-jack-kemp
Lucas, Robert E., Jr. (1988), “On the Mechanics of Economic Development,” Journal of Monetary Economics, 22(1) (June), 3–42
Lucas, Robert E., Jr. (1990), “Why Doesn’t Capital Flow from Rich to Poor Countries?,” American Economic Review, 80(2) (Autumn), 92–6
Lund, Margaret (2011), Multi-stakeholder Home Care Cooperatives:Reflections from the Experience of Québec, Cooperative Development Foundation
Lund, Margaret (2016), Solidarity as a Businesss Model: A Multi-Stakeholder Cooperatives Manual, Cooperative Development Center at Kent State University, available at www.uwcc.wisc.edu/pdf/multistakeholder%20coop%20manual.pdf
Lutz, M.A. (1997), “The Mondragon Cooperative Complex: Community Enterprise in Action,” International Journal of Social Economics, 24, 1404–21
Magnuson, Joel (2008), Mindful Economics, New York: Seven Stories Press
Mankiw, N. Gregory (2009), “Smart Taxes: An Open Invitation to Join the Pigou Club,” Eastern Economic Journal, 35, 14–23
Mariger, R.P. (1987), “A Life-Cycle Model with Liquidity Constraints: Theory and Empricial Results,” Econometrica, 55(3) (May), 533–57
Martin, Claire (2016), “Workers acting like they own the place? They might,” New York Times, June 26, 4
Marx, Karl (1852), “The Eighteenth Brumaire of Louis Bonaparte,” available at www.marxists.org/archive/marx/works/1852/18th-brumaire/
Marl, Karl (1875), “Critique of the Gotha Programme,” available at www.marxists.org/archive/marx/works/1875/gotha/index.htm
Marx, Karl (1881), “Marx-Zasulich Correspondence,” available at www.marxists.org/archive/marx/works/1881/zasulich/index.htm
Marx, Karl and Frederick Engels (1848), “Manifesto of the Communist Party,” available at www.marxists.org/archive/marx/works/1848/communist-manifesto/
Marx, Karl and Friedrich Engels (1887), Capital, Moscow: Progress Publishers
Maskin, Eric (1999), “Nash Equilibrium and Welfare Optimality (Paper presented at the Summer Workshop of the Econometric Society in Paris, June 1977),” Review of Economic Studies, 66, 23–38
Maslow, A.H. (1943), “A Theory of Human Motivation,” PsychologicalReview, 50(4), 370–96
Mathieu, Marc (2015), Annual Economic Survey of Employee ShareOwnership in European Countries, European Federation of Employee Share Ownership
McCain, Roger A. (1970), “Land in Fellner’s Neoclassical Model of Economic Growth: Comment,” American Economic Review, 60 (Jun.), 495–9
McCain, Roger A. (1972), “Induced Technical Progress and the Price of Capital Goods,” Economic Journal, 82 (Sept.), 921–33
McCain, Roger A. (1973), “Critical Note on Illyrian Economics,” Kyklos, 26
McCain, Roger A. (1974), “Induced Bias in Technical Innovation Including Product Innovation in a Model of Economic Growth,” Economic Journal, 84 (Dec.), 959–66
McCain, Roger A. (1976), “Economic Planning and Self-Management,” paper presented at the Conference of People for Self-Management, Washington, DC
McCain, Roger A. (1977a), “On the Optimum Financial Environment for Worker- Cooperatives,” Zeitschift fur Nationalokonomie, 37(34), 355–84
McCain, Roger A. (1977b), “The Characteristics of Optimum Inventions: An Isotech Approach,” American Economic Review, 67(1) (Feb.), 365–9
McCain, Roger A. (1978), “Endogenous Bias in Technical Progress and Environmental Policy,” American Economic Review, 68(4) (Sept.), 538–46
McCain, Roger A. (1981), “Tradition and Innovation: Some Economics of the Creative Arts, Science, Scholarship, and Technical Development,” in Malcolm Galatin and Robert Leiter (eds), Economics of Information, Boston, NJ: Nijhoff, 173–204
McCain, Roger A. (1985), “Economic Planning for Market Economies: The Optimality of Planning in an Economy with Uncertainty and Asymmetrical Information,” Economic Modelling, 2(4) (Oct.), 317–23
McCain, Roger A. (1991), “A Theory of Economic Planning for Market Economies: The Optimality of Planning,” in S. Baghwan Dahiya (ed.), Theoretical Foundations of Development Planning, Concept Publishing Co.
McCain, Roger A. (2000), Agent-Based Computer Simulation of Dichotomous Economic Growth, Boston: Kluwer
McCain, Roger (2006a), “Cooperation and Effort, Reciprocity and Mutual Supervision in Worker Cooperatives,” Proceedings of the 13th Conference of the International Association for the Economics of Participation (IAFEP), Sanctuario de Arantzazu, Spain, July
McCain, Roger (2006b), “Worker Cooperatives, Effort and Shirking: A Semi-Effective Game Model,” Proceedings of the Sixth Meeting on Game Theory and Practice, Zaragoza, Spain, July 10–12
McCain, Roger A. (2013), Value Solutions in Cooperative Games, Singapore: World Scientific
McCain, Roger A. (2014a), Reframing Economics: Economic Action as Imperfect Cooperation, Cheltenham: Edward Elgar Publishing
McCain, Roger A. (2014b), “Why Need is ‘a Word We Cannot Do Without’ in Economics,” Forum for Social Economics, 43(2), 181–96
McCain, Roger A. (2014c), Game Theory: A Nontechnical Introduction to the Analysis of Strategy, 3rd edn, Singapore: World Scientific Publishers
McCain, Roger A. (2015), Game Theory and Public Policy, 2nd edn, Cheltenham: Edward Elgar Publishing
McCain, Roger A. (2016a), “Small Business and Liquidity Constraint,” paper presented at the Conference of the Eastern Economic Association, available at www.researchgate.net/profile/Roger_Mccain/contributions
McCain, Roger A. (2016b), “Ultrasociality, Class, Threat, and Intentionality in Human Society,” Behavioral and Brain Science, 39, 29–30
McLeod, Stephen K. (2011), “Knowledge of Need,” International Journal of Philosophical Studies, 19(2), 211–30
McLeod, Stephen K. (2014), “Absolute Biological Needs,” Bioethics, 28(6), 293–301
Merton, Robert K. (1973), “The Normative Structure of Science,” in Robert K. Merton, The Sociology of Science: Theoretical and Empirical Investigations, Chicago, IL: University of Chicago Press, 267–78
Metcalfe, J. Stan, John Foster, and Ronnie Ramlogan (2006), “Adaptive Economic Growth,” Cambridge Journal of Economics, 30 (July), 7–32
Mill, John Stuart (1987), Principles of Political Economy, A.M. Kelley, reprint of 1909 edn
Mirrlees, J.A. et al. (2011), Tax by Design, Institute for Fiscal Studies, available at www.ifs.org.uk/mirrleesReview/design
Modigliani, Franco and R.E. Brumberg (1954), “Utility Analysis of the Consumption Function,” in K.K. Kurihara (ed.), Post-Keynesian Economics, New Brunswick, NJ: Rutgers University Press, 388–436
Mygind, Niels (1987), “Are Self-Managed Firms Efficient? The Experience of Danish Fully and Partly Self-Managed Firms,” in D. Jones and J. Svejnar (eds), Advances in the Economics of Participatory and Self-Managed Firms, Greenwich, CT: JAI Press, 243–323
National Center for Employee Ownership (2017), “Key Studies on Employee Ownership and Corporate Performance,” available at www.nceo.org/articles/studies-employee-ownership-corporate-performance
Nissan, Edward, María-Soledad Castaño, and Inmaculada Carrasco (2012), “Entrepreneurial Activity in Non-Profit Organizations,” Small Business Economics, 38(3), 303–20
Nordhaus, William (1973), “Some Skeptical Thoughts on the Theory of Induced Innovation,” Quarterly Journal of Economics, 87 (May), 208–19
Nozick, Robert (1974), Anarchy, State and Utopia, New York: Basic Books
Ohlsson, Ragnar (1995), Morals Based on Needs, Lanham, MD: University Press of America
Paine, Thomas (1776), Common Sense, Ten Cent Pocket Series, no. 50, Girard, KS: Haldeman-Julius
Pazner, E.A. and D. Schmeidler (1974), “A Difficulty in the Concept of Fairness,” Review of Economic Studies, 41 (July), 441–3
Pearce, Marcus and Geraint A. Wiggins (2002), “Aspects of a Cognitive Theory of Creativity in Musical Composition,” paper presented at the second International Workshop on Creative Systems, European Conference on Artificial Intelligence, Lyon, France
Pencavel, John, Luigi Pistaferri, and Fabiano Schivardi (2006), “Wages, Employment, and Capital in Capitalist and Worker-owned Firms,” Industrial and Labor Relations Review, 60(1) (Oct.), 23–44
Perotin, Virginie (1987), “Conditions of Survival and Closure of French Worker Cooperatives: Some Preliminary Findings,” in D.C. Jones and J. Svejnar (eds), Advances in the Economic Analysis of Participatory and Labor-Managed Firms, Greenwich, CT: JAI Press, 201–24
Phelps, Edmund (2013), Mass Flourishing: How Grassroots InnovationCreated Jobs, Challenge, and Change, Princeton, NJ: Princeton University Press
Pigou, A.C. (1912), Wealth and Welfare, London: Macmillan
Pigou, A.C. (1920), Economics of Welfare, London: Macmillan
Piketty, Thomas (2014), Capital in the Twenty-First Century, Cambridge, MA: Belknap Press
Piketty, Thomas (2015), “Putting Distribution Back at the Center of Economics: Reflections on ‘Capital in the Twenty-First Century,’” Journal of Economic Perspectives, 29(1) (Winter), 17–88
Piketty, Thomas and Gabriel Zucman (2014a), “Capital is Back: Wealth-Income Ratios in Rich Countries 1700–2010,” Quarterly Journal of Economics, 129(3) (Aug.), 1255–310
Piketty, Thomas and Gabriel Zucman (2014b), Wealth and Inheritance in the Long Run, Center for Economic and Policy Research, available at http://cepr.org/active/publications/discussion_papers/dp.php?dpno=10072
Przeworski, Adam and Michael Wallerstein (1982), “The Structure of Class Conflict in Democratic Capitalist Societies,” American Political Science Review, 76(2) (Jun.), 215–38
Pugh, William N., Sharon L. Oswald, and John S. Jahera Jr. (2000), “The Effect of ESOP Adoptions on Corporate Performance: Are There Really Performance Changes?,” Managerial and Decision Economics, 21(5) (Jul.–Aug.), 167–80
Rawls, John (1971), A Theory of Justice, Cambridge, MA: Belknap Press
Reader, Soran (2005), “Introduction,” in Soran Reader (ed.), ThePhilosophy of Need, Cambridge: Cambridge University Press, 1–24
Reader, Soran (2006), “Does a Basic Needs Approach Need Capabilities?,” Journal of Political Philosophy, 14(3), 337–50
Robinson, Joan (1933), The Economics of Imperfect Competition, London: Macmillan
Rognlie, Matthew (2015), Deciphering the Fall and Rise in the Net CapitalShare: Accumulation or Scarcity?, Brookings Papers on Economic Activity, March, 1–54
Romer, Paul M. (1986), “Increasing Returns and Long-Run Growth,” Journal of Political Economy, 94, 1002–37
Rowthorn, Robert (2014), A Note on Thomas Piketty’s Capital in the Twenty-First Century, Working Paper, Cambridge University
Saez, Emmanuel and Gabriel Zucman (2016), “Wealth Inequality in the United States Since 1913: Evidence from Capitalized Income Tax Data,” Quarterly Journal of Economics, 131(2), 519–78
Salamon, Lester M. (2004), The State of Nonprofit America, Washington, DC: Brookings Institution Press
Samuelson, Paul A. (1965), “A Theory of Induced Innovation along Kennedy-Weiszacker Lines,” Review of Economics and Statistics, 47(4) (Nov.), 343–56
Samuelson, Paul Anthony (1977), “Reaffirming the Existence of ‘Reasonable’ Bergson-Samuelson Social Welfare Functions,” Economica, New Series, 44(173) (Feb.), 81–8
Sato, K. (1967), “A Two-Level Constant-Elasticity-of-Substitution Production Function,” Review of Economic Studies, 34 (Apr.), 201–18
Schultz, Theodore (1961), “Investment in Human Capital,” AmericanEconomic Review (March), 1–17
Schumpeter, J.A. (1909), “On the Concept of Social Value,” QuarterlyJournal of Economics, 23(2) (Feb.), 213–32
Schumpeter, J.A. (1927), “The Explanation of the Business Cycle,” Economica, 21 (Dec.), 286–311
Schumpeter, J.A. (1928), “The Instability of Capitalism,” EconomicJournal, 38(151) (Sept.), 361–8
Schumpeter, J.A. (1934), The Theory of Economic Development, Tr. by Redvers Opie, Cambridge, MA: Harvard University Press
Schumpeter, J.A. (1947), “The Creative Response in Economic History,” Journal of Economic History, 7(2) (Nov.), 149–59
Schumpeter, J.A. (1950), Capitalism, Socialism and Democracy, 3rd edn, New York: Harper
Schumpeter, J.A., Markus C. Becker, and Thorbjorn Knudsen (2005), “Development,” Journal of Economic Literature, 43(1) (Mar.), 108–20
Scitovszky, Tibor De (1941), “A Note on Welfare Propositions in Economics,” Review of Economic Studies, 9, 77–88
Scitovszky, Tibor De (1943), “A Note on Profit Maximisation and its Implications,” Review of Economic Studies, 11(1) (Winter), 57–60
Scott Bader Commonwealth (2016), “About Us,” available at www.scottbader.com/about-us
Semieniuk, Gregor (2014), Piketty’s Elasticity of Substitution: A Critique, Working Paper, Schwartz Center for Economic Policy Analysis, The New School, available at www.economicpolicyresearch.org/images/docs/research/political_economy/Pikettys_Elasticity_of_Substitution_A_Critique_WP_2014_8.pdf
Senior, Nassau (1850), Political Economy, 2nd edn, London: Griffin
Sharp, Gary (1973), The Politics of Nonviolent Action, Boston, NJ: Porter Sargent
Simon, H.A. (2001), “Creativity in the Arts and the Sciences,” KenyonReview, New Series, 23(2) (Spring), 203–20
Smaldino, P. (2014), “The Cultural Evolution of Emergent Group-Level Traits,” Behavioral and Brain Sciences, 37, 243–95
Smith, Adam (1994), The Wealth of Nations, New York: The Modern Library
Solow, Robert (1956), “A Contribution to the Theory of Economic Growth,” Quarterly Journal of Economics, 70 (February), 65–95
Stevenson, Betsey and Justin Wolfers (2008), Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox, NBER Working Paper No. 14282
Stigler, George (1950), “The Development of Utility Theory. II,” Journal of Political Economy, 58(5) (Oct.), 373–96
Stiglitz, Joe (2013), The Price of Inequality, New York: Norton
Stokey, Nancy (1988), “Learning by Doing and the Introduction of New Goods,” Journal of Political Economy, 96, 701–17
Stokey, Nancy (1991), “Human Capital, Product Quality, and Growth,” Quarterly Journal of Economics, 106(2), 587–616
Summers, Lawrence (2013), “The 2013 Martin Feldstein Lecture: Economic Possibilities for our Children,” NBER Reporter, 4 (Summer), 1–6
Summers, Lawrence (2014), “The Inequality Puzzle,” Democracy Journal, available at www.democracyjournal.org/33/the-inequality-puzzle.php?
Taylor, Paul W. (1959), “‘Need’ Statements,” Analysis, 19(5) (Apr.), 106–11
Teulings, Coen and Richard Baldwin (2014), Secular Stagnation: Facts,Causes and Cures, Centre for Economic Policy Research (CEPR)
Thomas, H. and C. Logan (1982), Mondragon: An Economic Analysis, London: Allen and Unwin
Thomson, Garrett (2005), “Fundamental Needs,” in Soran Reader (ed.), The Philosophy of Need, Cambridge: Cambridge University Press, 175–87
Thornton, Judith (1965), “Estimation of Value Added and Average Returns to Capital in Soviet Industry from Cross-Section Data,” Journal of Political Economy, 73(6) (Dec.), 620–35
Thurow, Lester C. (1975), Generating Inequality: Mechanisms of Distribution in the U.S. Economy, New York: Basic Books
Tirole, Jean (1986), “Hierarchies and Bureaucracies: On the Role of Collusion in Organizations,” Journal of Law, Economics and Organizations, 2(2) (Autumn), 181–214
Tobin, James (1970), “On Limiting the Domain of Inequality,” Journal of Law and Economics, 13(2) (Oct.), 263–77
Tonneau, Olivier (2015), “Pablo Iglesias is right to evoke the guillotine and the French revolution,” Guardian, February 18, available at www.theguardian.com/commentisfree/2015/feb/18/pablo-iglesias-guillotine-french-revolution
United Nations (2003), Handbook of Non-Profit Institutions in the System of National Accounts: Studies in Methods, New York: United Nations, Series F, No. 91
United States of America (2007), “Third Amended Complaint,” in the United States District Court for the Northern District of Georgia, Atlanta Division, Case No. 1:05-CV-3147-JEC
Vanek, Jaroslav (1970), The General Theory of Labor-Managed MarketEconomies, Ithaca, NY: Cornell University Press
Vanek, Jaroslav (1971), The Participatory Economy, Ithaca, NY: Cornell University Press
Vanek, Jaroslav (1977), “A Fully Efficient and Fully Decentralized Labor-Managed Economy,” in The Labor-Managed Economy, Ithaca, NY: Cornell University Press, 171–80
Varian, H.R. (1974), “Equity, Envy and Efficiency,” Journal of EconomicTheory, 9, 63–91
Veblen, Thorstein (1899), Theory of the Leisure Class, London: Macmillan
Ward, Benjamin (1958), “The Firm in Illyria: Market Syndicalism,” American Economic Review, 48(3), 566–89
Wellstone, Paul (2000), “Wellstone Quotes,” available at www.wellstone.org/legacy/speeches/paul-wellstone-quotes
Whitehead, A.N. (1925), Science and the Modern World, New York: Macmillan
Whyte, W.F. (1997), Making Mondragon: The Growth and Dynamics of the Mondragon Cooperative Complex, Ithaca, NY: Cornell University Press
Wiggins, David (2005), “An Idea We Cannot Do Without,” in Soran Reader (ed.), The Philosophy of Need, Cambridge: Cambridge University Press, 25–50
Wiggins, David and Sira Dermen (1987), “Needs, Need, Needing,” Journal of Medical Ethics, 13(2) (Jun.), 62–8
Wolff, Edward (2010), Recent Trends in Household Wealth in the UnitedStates: Rising Debt and the Middle Class Squeeze, an Update, Levy Economics Institute of Bard College, Working Paper 589
Worcester, Dean A., Jr. (1973), “New Estimates of the Welfare Loss to Monopoly, United States: 1956–1969,” Southern Economic Journal, 40(2) (Oct.), 234–45
Wright, Erik Olin (2000), “Working-Class Power, Capitalist-Class Interests, and Class Compromise,” American Journal of Sociology, 105(4) (Jan.), 957–1002
Yaari, Menachem E. (1981), “Rawls, Edgeworth, Shapley, Nash: Theories of Distributive Justice Re-examined,” Journal of Economic Theory, 24 (Jan.), 1–39