Income and Wealth

Alan Reynolds

Sep 2006 · Greenwood Publishing Group

About this ebook

Why some people are rich and others poor can be explained in a number of ways. Income and Wealth focuses on who gets what and why. It explains the dynamics of income generation, how it is measured, and how such dramatic disparities in distribution come about. The book first defines various characteristics of income, with an emphasis on the gap between the rich and the poor, and reviews several theories to explain the disparities. Subsequent chapters discuss such timely topics as the vanishing middle class and the sky-high salaries of CEOs, Hollywood stars, and athletes. The final chapters consider the implications of policies, such as the minimum wage, taxes, immigration, and trade quotas, and expand the discussion to consider international comparisons. Featuring graphs and charts, a glossary of key terms, and a listing of references and resources, Income and Wealth explains the intricate, and often controversial, effects of economic policies on individuals, families, and communities. Moreover, it shows how the numbers can be manipulated by policymakers, pundits, journalists, and academics to promote various agendas—and shows readers how to recognize hyberbole and make better-informed decisions.

About the author

ALAN REYNOLDS is a Senior Fellow at the Cato Institute and was formerly Director of Economic Research at the Hudson Institute. He served as Research Director with the National Commission on Tax Reform and Economic Growth, as advisor to the National Commission on the Cost of Higher Education, and as a member of the OMB transition team in 1981. His studies have been published by the Organization for Economic Cooperation and Development, the Joint Economic Committee, the Federal Reserve Banks of Atlanta and St. Louis, and the Australian Stock Exchange. Author of The Microsoft Antitrust Appeal (2001), he has written for numerous publications since 1971, including The Wall Street Journal, The New York Times, National Review, The New Republic, Fortune, and the Harvard Business Review. A former columnist with Forbes and Reason, his weekly column is now nationally syndicated.