tag:blogger.com,1999:blog-20142791.post2345926825557365305..comments2024-03-11T07:41:19.149-04:00Comments on The Perfect Substitute: Help Me Pick a New Name for "Income Distribution"Unknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-20142791.post-42596750506657663682008-08-07T08:31:00.000-04:002008-08-07T08:31:00.000-04:00I kind of like Income contribution, and when state...I kind of like Income contribution, and when stated that way it almost changes the way you would view the problem in that it would realign the true problem in income inequality, which is that some people have low incomes. <BR/><BR/>Total income can only be created, but you can have an individuals income transferred from one person to another via welfare or social security. Within firms, competitive labor and producer markets wages and rent are pushed to their individual income contribution (better known as marginal revenue product). However, it is my understanding that to the extent we can measure this, very large corporations appear to overpay those at the bottom and underpay those towards the top. Frank has an explanation for this in his book "Economic Naturalist" you can check out next time you are in Barnes and Noble, but I don't think it is very convincing.Justin M Rosshttps://www.blogger.com/profile/06990658017459237627noreply@blogger.comtag:blogger.com,1999:blog-20142791.post-34646895025706416462008-08-06T18:40:00.000-04:002008-08-06T18:40:00.000-04:00Income contribution? A chart of incomes vs probabi...Income contribution? A chart of incomes vs probabilities could be an 'income contribution map', or for policy work you could chart incomes vs physical locations as a real income contribution map. <BR/><BR/>But isn't income both created and distributed? Firms aggregate individual efforts to create wealth and income, but the wealth and income created may or may not be distributed proportionally to the individual income contributors.Thomashttps://www.blogger.com/profile/07581607263422875506noreply@blogger.com