{"product_id":"capitalists-workers-and-fiscal-policy-thomas-r-michl-9780674031678","title":"Capitalists, Workers, and Fiscal Policy: A Classical Model of Growth and Distribution","description":"\u003cp\u003eDrawing on the work of the classical-Marxian economists and their modern successors, \u003ci\u003eCapitalists, Workers, and Fiscal Policy\u003c\/i\u003e sets forth a new model of economic growth and distribution, and applies it to two major policy issues: public debt and social security. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eThe book homes in specifically on the problem of fiscal policy, examining the ways that taxation and government spending affect the distribution of wealth and income as well as the rate of economic growth. Thomas Michl's model shows that public debt has a regressive effect on wealth distribution. It also demonstrates that the accumulation of wealth by public authorities, for example, in the form of a pension reserve such as the U.S. social security trust fund, can have a progressive effect on wealth distribution, both directly (since it represents ownership by the citizenry) and indirectly through its general equilibrium effects on the structure of accumulation. The book's findings provide an analytical foundation for a macroeconomic policy of using fiscal surpluses to accumulate a public pension reserve fund that serves to effect a progressive redistribution of wealth.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Thomas R. Michl\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0674031679\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780674031678\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Harvard University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/01\/2009\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 320\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.32lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.20w x 1.10d\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eChronicle of Higher Education\u003c\/i\u003e 03\/06\/2009 pg. 17","brand":"Thomas R. Michl","offers":[{"title":"Hardcover","offer_id":44181087387903,"sku":"9780674031678","price":82.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_8d6485d7-e461-4220-8466-f2b6affd1ab5.jpg?v=1690258488","url":"https:\/\/www.whiterainbookhouse.com\/products\/capitalists-workers-and-fiscal-policy-thomas-r-michl-9780674031678","provider":"WR Book House","version":"1.0","type":"link"}