Inequality as a cause of macro-instability and productive inefficiency
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Abstract
These essays will examine the impact of inequality from both macro and micro perspectives. The first issue to be raised will be the contribution of inequality to macroeconomic instability. In the third chapter the focus will expand to determine whether an optimal level of inequality can be found. Much of the examination will be informed by principles outlined in the Progressive Utilization Theory (PROUT) developed by the philosopher P. R. Sarkar. As this dissertation was written during the recovery from the Great Recession, a timely controversy is addressed in the first chapter – whether ...
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