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- Title
The Distribution of Education and the Distribution of Income.
- Authors
Oulton, Nicholas
- Abstract
The purpose of this paper is to examine the connection between the distribution of income and the distribution of education. Section I of the paper contains a brief critique of the human capital approach to income distribution, pioneered by Becker (1964). As developed so far, the human capital approach seems incomplete, since the distribution of income is made to depend on the distribution of education but the latter is not explained. In the subsequent sections, more general models are examined in which the two distributions are determined simultaneously. Essentially, these models combine the human capital approach to education with the marginal productivity theory of factor pricing. It is found that when equality of opportunity and ability is assumed, the models do not in general produce an income distribution curve which conforms to the empirically established character of such curves. The concluding section discusses how far inequality of opportunity and ability and the presence of disequilibrium may affect the theoretically derived distribution of income.
- Subjects
INCOME distribution; INCOME; EDUCATION; INTEREST rates; CASH flow
- Publication
Economica, 1974, Vol 41, Issue 164, p387
- ISSN
0013-0427
- Publication type
Article
- DOI
10.2307/2553350