Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7369429 | Journal of Public Economics | 2018 | 19 Pages |
Abstract
The final section constructs a simple two class model, capitalists who maximize dynastic welfare and workers who save for retirement, whose productivity can be enhanced by (publicly provided) education. It derives a simple expression for the optimal capital tax, which is positive, so long as the social welfare function is sufficiently equalitarian and the productivity of educational expenditures is sufficiently high.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Joseph E. Stiglitz,