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Title: The Half Life of Economic Injustice

Author(s): David Miles

Publication Date: November 2018

Keyword(s): Distributive justice, Human Capital, income distribution and Solow growth model

Programme Area(s): Financial Economics and Macroeconomics and Growth

Abstract: How much of today's income (GDP) is a result of unjust economic transactions? How much is a legacy of past acquisition of wealth (capital) which was itself unjust? To answer that question requires two things: first, a principle to determine what is, and what is not, a just acquisition of wealth or a just source of income; second, a means of using that principle to estimate what fraction of wealth and income is unjust. I use a principle put forward by Robert Nozick to provide the first of these things and then use some calculations based on standard neoclassical models of economic growth to illustrate its implications for the scale of unfairness today.

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Bibliographic Reference

Miles, D. 2018. 'The Half Life of Economic Injustice'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=13342