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Inequality and Stability

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  • A. S. Pinto Barbosa
  • Boyan Jovanovic
  • Mark M. Spiegel

Abstract

A constitution remains in force so long as no party wishes to defect to the non-cooperative situation, and it is reinstituted as soon as each party finds it to its advantage to revert to cooperation. It is the rich, and not the poor segments of society who in our model pose the greater threat to the stability of the social order.

Suggested Citation

  • A. S. Pinto Barbosa & Boyan Jovanovic & Mark M. Spiegel, 1997. "Inequality and Stability," Annals of Economics and Statistics, GENES, issue 48, pages 15-40.
    • Handle: RePEc:adr:anecst:y:1997:i:48:p:15-40
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    File URL: http://www.jstor.org/stable/20076095
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    Cited by:

    1. Roland Bénabou, 1996. "Inequality and Growth," NBER Chapters, in: NBER Macroeconomics Annual 1996, Volume 11, pages 11-92, National Bureau of Economic Research, Inc.
    2. Elvio Accinelli-Gamba & Leobardo Plata-Pérez & Joss Sánchez-Pérez, 2014. "Efficiency, egalitarianism, stability and social welfare in infinite dimensional economies," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(1), pages 1-26, May.

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