A new approach to the distribution of income
Jordan Brennan, economist, unifor
• At a historic extreme when it comes to income inequality in this country
Why does income inequality matter?
• Richard Wilkinson and Kate pickets, The Spirit Level (2009)
• Absolute or relative poverty?
• Inequality and social pathology
o Happiness and life expectancy
o Violence and incarceration
o Trust and social mobility
o Mental health, obesity, alcoholism and substance abuse
o Infant mortality, teenage pregnancy and children’s educational
• Everything about a society gets worse as it becomes more unequal, it becomes
• Distribution of income: production, people are different in productivity, less
productive results in lower income
What is capital? What is capitalism?
1. “Economics” and “politics”
2. “Real” and “nominal”
o Capital consists of those durable produced items t