Inequality and stability

António Pinto Barbosa, Boyan Jovanovic, Mark M. Spiegel

Research output: Contribution to journalArticle

Abstract

A constitution remains in force so long as no party wishes to defect to the noncooperative situation, and it is reinstituted as soon as each party finds it to its advantage to revert to cooperation. It is the rich, and not the poor segments of society who in our model pose the greater threat to the stability of the social order.
Original languageEnglish
Pages (from-to)15-40
JournalAnnales d'Économie et de Statistique
Issue number48
DOIs
Publication statusPublished - 1 Jan 1997

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