Watch Blair Fix talk about how corporate hierarchies create income inequality, and make the rich get richer. "This paper explores the idea that the (re)distribution of top incomes is uniform because it is shaped by a ubiquitous feature of social life, namely hierarchy. Using a model first developed by Herbert Simon and Harold Lydall, I show … Continue reading Breaking Old News: HIERARCHY REDISTRIBUTES INCOME – US Inequality for Quants – by Blair Fix
Tag: Herbert Simon
The Nobel Poor
One reason to celebrate this year's prize is that it went to a woman, albeit shared with two men. Professor Duflo is only the second ever female economist to get the chance to feel humbled by this ultimate gong. The first was Elinor Ostrom in 2009. Funnily enough, history may well judge Ostrom's work on … Continue reading The Nobel Poor