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- W2200520697 abstract "This is an extraordinary and valuable book. It is an unusual book because the authors are an economist and a physicist. The economist is Sidney Carroll, a professor at the University of Tennessee in Knoxville, a specialist in industrial organization and microeconomic theory. The physicist is Herbert Inhaber, formerly Coordinator of the Office of Risk Analysis at the Oak Ridge National Laboratory, and now employed by an environmental consulting finn in western New York state. What makes the book extraordinary and especially valuable at this time is that the authors believe that they have found an empirically sound, scientific answer to the question that has plagued humanity since antiquity-how rich is too rich? The answer to this question is found in what they assert are natural laws that govem the distribution of income and wealth. Not only do Inhaber and Carroll say that they have the right answer, but they also believe they know what should be done about it. Their to excessive inequality in the distribution of both wealth and income-what they call the 3 percent solution-is well suited to public policy. This is true, even though the underlying mathematics and statistics may be somewhat abstruse for the average reader. Further, the 3 percent solution applies to both income and wealth. In a general way there are three major parts to the book, although it is" @default.
- W2200520697 created "2016-06-24" @default.
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- W2200520697 date "1993-09-01" @default.
- W2200520697 modified "2023-09-25" @default.
- W2200520697 title "How Rich Is Too Rich? Income and Wealth in America, by Herbert Inhaber and Sidney Carroll: A Review Article" @default.
- W2200520697 cites W2164847837 @default.
- W2200520697 doi "https://doi.org/10.1080/01603477.1993.11489970" @default.
- W2200520697 hasPublicationYear "1993" @default.
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