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On Limiting the Domain of Inequality: The Legacy of James Tobin

Author

Listed:
  • Robert Dimand

    (Department of Economics, Brock University)

Abstract

The Keynesian macroeconomist James Tobin presented an ambitious program for social policy, sketched in the titles of "It Can be Done! Conquering Poverty in the US by 1976" (1967), "On Limiting the Domain of Inequality" (1970), "On Improving the Economic Status of the Negro" (1965), and "Raising the Incomes of the Poor" (1968). Tobin advocated means-tested cash transfers (negative income tax), to reduce poverty without interfering with market determination of relative prices (a position shared with Milton Friedman), paired with "non-market egalitarian distributions of commodities essential to life and citizenship" (education, food stamps, basic housing). The latter position contrasted with Friedman's Chicago school approach. Tobin's message continues to be relevant for reduction of poverty and inequality. Tobin's approach is contrasted with the neo-conservative analysis of the causes of poverty (exemplified by Herrnstein and Murray, but going back to Senior and Chadwick's Poor Law Report of 1834) that has been reflected in "the end of welfare as we know it".

Suggested Citation

  • Robert Dimand, 2003. "On Limiting the Domain of Inequality: The Legacy of James Tobin," Eastern Economic Journal, Eastern Economic Association, vol. 29(4), pages 559-564, Fall.
    • Handle: RePEc:eej:eeconj:v:29:y:2003:i:4:p:559-564
    as

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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume29/V29N4P559_564.pdf
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    References listed on IDEAS

    as
    1. Timothy Besley & Stephen Coate, 1995. "The Design of Income Maintenance Programmes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 62(2), pages 187-221.
    2. Rose D. Friedman, 1965. "Poverty: Definition and Perspective," Books, American Enterprise Institute, number 51389, September.
    3. Janice Peterson, 2002. "The TANF Reauthorization Debate: Key Welfare Reform Issues and Concerns," Journal of Economic Issues, Taylor & Francis Journals, vol. 36(2), pages 431-439, June.
    4. Joseph Persky, 1997. "Retrospectives: Classical Family Values: Ending the Poor Laws as They Knew Them," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 179-189, Winter.
    5. James Tobin, 1996. "Full Employment and Growth," Books, Edward Elgar Publishing, number 800.
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    More about this item

    Keywords

    Inequality;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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