Wealth Concentration, Income Distribution, and Alternatives for the USA

Source: Lance Taylor, Ozlem Omer, Armon Rezai, Institute for New Economic Thinking Working Paper Series No. 17, September 2015

From the abstract:
US household wealth concentration is not likely to decline in response to fiscal interventions alone. Creation of an independent public wealth fund could lead to greater equality. Similarly, once-off tax/transfer packages or wage increases will not reduce income inequality significantly; on-going wage increases in excess of productivity growth would be needed. These results come from the accounting in a simulation model based on national income and financial data. The theory behind the model borrows from ideas that originated in Cambridge UK (especially from Luigi Pasinetti and Richard Goodwin).