INCOME DISTRIBUTION and ECONOMIC POLICY
a. In one paragraph, explain the actual distribution over time of income in the U.S. as is laid out in TSOWA (you could look at your first exam). Explain how the neoclassical view justifies income distribution (TWER pg 47).
b. Attempt to come up with a theory that explains the structures that enforce the current distribution using the reality of U.S. policy including but not limited to tax policy (TWER page 39), union policy, trade policy, unemployment policy, minimum wage policy, (all in SOWA) and economic stability (pick at least 3 to explain). (See the chapter “Inequality, Power and Ideology,” pg 22 in TWER.)
c. Which groups are represented amongst those influencing and making policy in the US? (See the chapter “Inequality, Power and Ideology,” pg 22 in TWER.)