Income Distribution Theory

aggregate American analysis argument average Bowley's Law capital cent changes Chapter Cobb-Douglas Cobb-Douglas function coefficient collective bargaining competitive constant consumer consumption cost demand function derived diagram dx/da Econ economic economists effect elasticity of substitution employer employment entrepreneurial equal equation equilibrium estimate expansion path fall Figure firm growth guideposts Hicks imperfect competition income distribution incomes policies indifference curves industries inflation input prices interest rate investment isoquant Keynesian labor aristocracy labor share linear Lorenz curve lower macroeconomic marginal productivity measured ment monetary money wage monopoly monopsony national income negative output price P₁ Phillips curve positive poverty price level problem production function profits ratio real wage redistribution relative share rent rise saving sector shift slope social statistical supply function theory tion tive union United variables wage rate wealth Weintraub workers zero δα δχ