About: How Much Income Inequality Is Too Much?

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An Entity of Type : schema:ScholarlyArticle, within Data Space : covidontheweb.inria.fr associated with source document(s)

Attributes	Values
type	Academic Article research paper schema:ScholarlyArticle
isDefinedBy	Covid-on-the-Web dataset
title	How Much Income Inequality Is Too Much?
Creator	Bouchaud, Jean-Philippe
source	ArXiv
abstract	We propose a highly schematic economic model in which, in some cases, wage inequalities lead to higher overall social welfare. This is due to the fact that high earners can consume low productivity, non essential products, which allows everybody to remain employed even when the productivity of essential goods is high and producing them does not require everybody to work. We derive a relation between heterogeneities in technologies and the minimum Gini coefficient required to maximize global welfare. Stronger inequalities appear to be economically unjustified. Our model may shed light on the role of non-essential goods in the economy, a topical issue when thinking about the post-Covid-19 world.
has issue date	2020-04-21(xsd:dateTime)
has license	arxiv
sha1sum (hex)	a7919c425d0da63f1e182eb98aafc2d48920e2fd
resource representing a document's title	How Much Income Inequality Is Too Much?
resource representing a document's body	covid:a7919c425d0da63f1e182eb98aafc2d48920e2fd#body_text
is schema:about of	named entity 'Gini coefficient' named entity 'This' named entity 'schematic' named entity 'INEQUALITIES' named entity 'HIGHER' »more»

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