Why the rich always stay rich (no matter what, no matter the cost)

This article returns to the Ricardian tradition of understanding income distribution as the outcome of an “antagonistic” conflict with a multiplicity of actors and struggles, where history, politics and institutions matter as much as economic “fundamentals”. Because this relates to the political sph...

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Autor principal:	Palma, José Gabriel
Formato:	Texto
Lenguaje:	English
Publicado:	2021
Materias:	RIQUEZA ELITE CLASE ALTA CONDICIONES ECONOMICAS DISTRIBUCION DEL INGRESO SISTEMAS ECONOMICOS CONDICIONES POLITICAS ESTUDIOS DE CASOS WEALTH UPPER CLASS ECONOMIC CONDITIONS INCOME DISTRIBUTION ECONOMIC SYSTEMS POLITICAL CONDITIONS CASE STUDIES
Acceso en línea:	https://hdl.handle.net/11362/46930
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spelling	oai-11362-469302021-06-15T21:07:06Z Why the rich always stay rich (no matter what, no matter the cost) Palma, José Gabriel RIQUEZA ELITE CLASE ALTA CONDICIONES ECONOMICAS DISTRIBUCION DEL INGRESO SISTEMAS ECONOMICOS CONDICIONES POLITICAS ESTUDIOS DE CASOS WEALTH ELITE UPPER CLASS ECONOMIC CONDITIONS INCOME DISTRIBUTION ECONOMIC SYSTEMS POLITICAL CONDITIONS CASE STUDIES This article returns to the Ricardian tradition of understanding income distribution as the outcome of an “antagonistic” conflict with a multiplicity of actors and struggles, where history, politics and institutions matter as much as economic “fundamentals”. Because this relates to the political sphere, there are no purely logical solutions to the conflict, but rather options in a scenario of multiple equilibria. In deregulated markets, this conflict favours the supremacy of unproductive rent (especially those of “inefficiency”), to the detriment of operating profits, affecting investment and productivity growth. Moreover, dysfunctional institutions have the “ability to persist”, thus transforming the domination into a “stationary process”: the unbalancing impacts of shocks have only limited lifespans. When, in democracy, the Latin American oligarchy limits change and weakens the State through Buchanian-style constitutional straitjackets, they redesign their distributional strategies and absorb elements of opposing ideologies to keep their own hegemonic. 2021-05-31T20:51:55Z 2021-05-31T20:51:55Z 2020-12-31 Texto Sección o Parte de un Documento https://hdl.handle.net/11362/46930 LC/PUB.2021/4-P 7 en CEPAL Review - Special issue CEPAL Review 132 .pdf application/pdf AMERICA LATINA CHILE EUROPA OCCIDENTAL CHILE LATIN AMERICA WESTERN EUROPE
institution	Cepal
collection	Cepal
language	English
topic	RIQUEZA ELITE CLASE ALTA CONDICIONES ECONOMICAS DISTRIBUCION DEL INGRESO SISTEMAS ECONOMICOS CONDICIONES POLITICAS ESTUDIOS DE CASOS WEALTH ELITE UPPER CLASS ECONOMIC CONDITIONS INCOME DISTRIBUTION ECONOMIC SYSTEMS POLITICAL CONDITIONS CASE STUDIES
spellingShingle	RIQUEZA ELITE CLASE ALTA CONDICIONES ECONOMICAS DISTRIBUCION DEL INGRESO SISTEMAS ECONOMICOS CONDICIONES POLITICAS ESTUDIOS DE CASOS WEALTH ELITE UPPER CLASS ECONOMIC CONDITIONS INCOME DISTRIBUTION ECONOMIC SYSTEMS POLITICAL CONDITIONS CASE STUDIES Palma, José Gabriel Why the rich always stay rich (no matter what, no matter the cost)
description	This article returns to the Ricardian tradition of understanding income distribution as the outcome of an “antagonistic” conflict with a multiplicity of actors and struggles, where history, politics and institutions matter as much as economic “fundamentals”. Because this relates to the political sphere, there are no purely logical solutions to the conflict, but rather options in a scenario of multiple equilibria. In deregulated markets, this conflict favours the supremacy of unproductive rent (especially those of “inefficiency”), to the detriment of operating profits, affecting investment and productivity growth. Moreover, dysfunctional institutions have the “ability to persist”, thus transforming the domination into a “stationary process”: the unbalancing impacts of shocks have only limited lifespans. When, in democracy, the Latin American oligarchy limits change and weakens the State through Buchanian-style constitutional straitjackets, they redesign their distributional strategies and absorb elements of opposing ideologies to keep their own hegemonic.
format	Texto
author	Palma, José Gabriel
author_facet	Palma, José Gabriel
author_sort	Palma, José Gabriel
title	Why the rich always stay rich (no matter what, no matter the cost)
title_short	Why the rich always stay rich (no matter what, no matter the cost)
title_full	Why the rich always stay rich (no matter what, no matter the cost)
title_fullStr	Why the rich always stay rich (no matter what, no matter the cost)
title_full_unstemmed	Why the rich always stay rich (no matter what, no matter the cost)
title_sort	why the rich always stay rich (no matter what, no matter the cost)
publishDate	2021
url	https://hdl.handle.net/11362/46930
work_keys_str_mv	AT palmajosegabriel whytherichalwaysstayrichnomatterwhatnomatterthecost
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Why the rich always stay rich (no matter what, no matter the cost)

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