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Education Policies, Economic Growth and Wage Inequality
Author: Rehme, Günther
Source: FinanzArchiv: Public Finance Analysis, Volume 59, Number 4, December 2003 , pp. 479-503(25)
Publisher: Mohr Siebeck
Abstract:
It is assumed that education simultaneously affects growth and wage inequality. Human capital is taken as ''lumpy'', and education policy has a direct bearing on growth, the number of high-skilled people, and wages. It is shown that the optimal policy for the unskilled is Rawlsian and implies high after-tax returns on capital and high growth, whereas the skilled prefer an anti-Rawlsian policy with less education, lower growth, and more wage inequality. In contrast, a strictly utilitarian government chooses more education and less inequality than the Rawlsian. Thus, the unskilled prefer a more efficient and more equitable outcome than the skilled, and a strictly utilitarian policy may be more egalitarian than a Rawlsian policy.Document Type: Research article
DOI: http://dx.doi.org/10.1628/0015221032500810
Publication date: 2003-12-01
- FinanzArchiv founded in 1884 is one of the world's oldest professional journals in public finance.
FinanzArchiv publishes original work from all fields of public economics which are of interest to an international readership, e.g. taxation, public debt, public goods, public choice, federalism, market failure, social policy, and the welfare state. Special emphasis is on high-quality theoretical and empirical papers on current policy issues.
FinanzArchiv is a well-established, internationally oriented journal in the field of public economics, widely read in Europe and all over the world.
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