Borradores de Economia
Number:
349
Published:
Classification JEL:
H11, D73, D74, D78, D30
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
Luis Armando Galvis-Aponte, Adriana Marcela Rivera-Zárate
Daniel Herrera-Araujo, Jorge Florez-Acosta
Diego Fernando Cuesta-Mora, Fredy Alejandro Gamboa-Estrada, Camilo Eduardo Sánchez-Quinto
This paper develops a political economy model that provides an explanation as for why ruling elites in oligarchic societies may rely on income redistribution to the poor (the masses) in order to prevent them from attempting a revolution. We refer to this