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2 - Macroeconomic Income Distribution

Published online by Cambridge University Press:  31 July 2020

Lance Taylor
With
Özlem Ömer
Lance Taylor
Affiliation:
New School for Social Research, New York
Özlem Ömer
Affiliation:
Haci Bektas Veli University, Turkey
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Summary

“What news on the Rialto?” For the financial players of the Merchant of Venice, the shipping news was about gains and losses in the accounts of the parties concerned (pounds of flesh excluded). Double-entry bookkeeping to track market transactions was standard Venetian practice long before Shakespeare had Salanio and Salarino discussing nautical finance in Act One. Centuries later, double entries were extended to national income by John Maynard Keynes (1940) in his pamphlet on How to Pay for the War.

Type
Chapter
Information
Macroeconomic Inequality from Reagan to Trump
Market Power, Wage Repression, Asset Price Inflation, and Industrial Decline
 , pp. 26 - 41
Publisher: Cambridge University Press
Print publication year: 2020

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