Understanding economic inequality by The Open University

Author:The Open University
Language: eng
Format: azw3, pdf
Publisher: The Open University
Published: 2019-12-11T16:00:00+00:00

6.3 The structure of original incomes

In Section 4.2.1 you looked at how the share of total income going to labour in the economy had fallen. Many economists support policies of redressing the falling share of total income in the economy going to labour. Such policies would affect the structure of original income by increasing the share of wages going to labour pre-taxes and benefits (which corresponds to the original income in Figure 9 in Activity 5). For this reason they have been referred to as ‘predistribution’ policies by some economists (in contrast to the redistribution of income through the tax and benefits system), as they would contribute to a more equal distribution of income in the first place.

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