[lbo-talk] Actual Economic Question

[boddi satva]

Okay, but Doug, seriously, I am asking you as an economist whether you
know of any serious equillibrium models which produce wealth
distribution that fits the data. I can't seem to find any.

On 10/11/06, Doug Henwood <dhenwood at panix.com> wrote:
>
> On Oct 11, 2006, at 2:11 PM, joanna wrote:
>
> > Doug Henwood wrote:
> >
> >> It's because they're so wonderfully skilled and the market is
> >> rewarding them appropriately, of course.
> >
> > That's right, and Henry Ford IV is just about a million times
> > smarter and harder working than I am.
>
> Economists have an answer for that: "unobserved characteristics."
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