Author(s): Keigo Nishida | Katsuyuki Naito
Journal: Journal of Biophysical Chemistry
ISSN 2153-036X
Volume: 02;
Issue: 01;
Start page: 109;
Date: 2012;
Original page
Keywords: Income Inequality | Majority Voting | Human Capital Accumulation | Economic Growth
ABSTRACT
This paper presents a simple model to investigate the relationship among initial income inequality, education and eco- nomic growth. Public expenditure on education is determined through majority voting. Although preferences of individuals are not single-peaked, the individual with the median income becomes the decisive voter. Our model predicts that high initial inequality has a negative impact on education expenditure and therefore retards economic growth.
Journal: Journal of Biophysical Chemistry
ISSN 2153-036X
Volume: 02;
Issue: 01;
Start page: 109;
Date: 2012;
Original page
Keywords: Income Inequality | Majority Voting | Human Capital Accumulation | Economic Growth
ABSTRACT
This paper presents a simple model to investigate the relationship among initial income inequality, education and eco- nomic growth. Public expenditure on education is determined through majority voting. Although preferences of individuals are not single-peaked, the individual with the median income becomes the decisive voter. Our model predicts that high initial inequality has a negative impact on education expenditure and therefore retards economic growth.
