A Theory of Wealth Distribution and Accumulation

Provides a general framework for a macroeconomic theory of income and wealth distribution. The book examines in particular the laws which regulate the accumulation of inter-generational wealth and life-cycle savings in families or dynasties, both in a deterministic and stochastic context. This volume provides the micro-foundations of a macroeconomic theory of income distribution and of the accumulation and distribution of wealth. Baranzini surveys current literature on the subject, before going on to make his own contribution by presenting a new model. He examines the laws which regulate the accumulation of inter-generational wealth and life-cycle savings of families or dynasties, both in a deterministic and stochastic context. The mechanisms which may lead to the generation and coexistence of different socio-economic classes are also studied.