By Jean Marchal and Bernard Ducros (Eds. )
ISBN-10: 1349152455
ISBN-13: 9781349152452
ISBN-10: 1349152471
ISBN-13: 9781349152476
ISBN-10: 4134384494
ISBN-13: 9784134384496
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Extra info for The Distribution of National Income: Proceedings of a Conference held by the International Economic Association
Example text
Three recent studies have examined the behaviour of employee compensation as a proportion of private national income or product. One of these [10], for the period 1899 to 1929, shows that compensation of employees as a percentage of the business sector's gross product had no trend, upward or downward, in contrast to the upward trend of employee compensation as a percentage of national income (see column 1 of Table 9). Two studies of the period since 1929 [28, p. 14] [25, p. 9 to 53·6 per cent in 1957, and (2) that employed labour's share of privately produced income rose from 55·6 per cent in 1929 to 64·7 24 Haley- Income Distribution in the United States per cent in 1955.
The tendency revealed by his figures for 1929-48 corresponds with that shown by Table 2. In the period 1917-28, on the other hand, the inequality of the distribution appears on the whole to have increased moderately. Kuznets's 'basic' variant income share (employee compensation, entrepreneurial income, rent, interest, and dividends) for the top 5 per cent increased from 24·6 to 26·78 per cent. The subsequent decline brought the figure down to 17·41 per cent in 1947. The share for the top 5 ·per cent for his 'economic income' variant (the basic variant corrected for non-reporting of state and local government salaries before 1938, omission of imputed rent, and use of an inappropriate income base in classifying tax data) increased from 26·1 per cent in 1919 to 32·06 per cent in 1928 and 32·12 per cent in 1932.
The more considerable decline in the concentration ratio in the case of unrelated individuals than in the case of families is the outI4 Haley- Income Distribution in the United States come of a decline in the ratio for both urban and rural non-farm individuals, and it occurs in spite of an increase in the ratio for rural farm individuals. Note that these ratios behaved quite differently for unrelated individuals than for families ; but the outcome, a decline in the concentration ratios for both families and unrelated individuals, is the same.
The Distribution of National Income: Proceedings of a Conference held by the International Economic Association by Jean Marchal and Bernard Ducros (Eds. )
by James
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