Working Papers

Short list of papers posted to the web, with abstracts. For complete list, see CV.

Equality, Productivity and Growth 1981, revised 1994.
     Popular article on why greater equality is good for economic productivity and growth.

Distribution, Productivity and Growth Presented at EEA 2003.
     Simulation model of an agricultural economy with 5 classes, ranging from large landlords to landless peasants. As distribution of land ranges from equal to highly unequal, income becomes more unequal and wages and output fall.

Wealth Inequality, Growth and Instability Presented at EEA 2005.
     A three-factor two sector growth model, based on classical corn models, shows how inequality can aggravate cyclical instability.

George, Wicksell and Gaffney: A Three-Factor Model of the Boom and Bust Cycle. Presented at the History of Economics Society annual meeting, June 2007.

Unequal Distribution as a Cause of Market Failure--Are Land Taxes the Remedy? Giannini Foundation Working Paper No. 721, 1994.
     Land taxes reduce market failure caused by unequal distribution of land holdings. Output taxes aggravate market failure.

Taxes, Land Values, Wages, and the Economic Margin: Effects on Banking of a Shift to Land Taxes Presented at American Institute for Economic Research, 1994.
     A revenue-neutral shift of taxes to land taxes will increase central land values but lower peripheral land values. Output will increase, as will wage rates and wage income.

Differences Between Large and Small Firms: Application to Oil Leasing Policy 1977.
     Large firms have a comparative advantage in undertakings that are more capital-intensive undertakings; small firms in more labor-intensive. Current leasing policies favor large firms; different policies could give greater opportunity to small firms. (The logic applies equally to broadcast licences.)

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