posted by leo
on Sun, 10/17/2010 - 01:03
U. of C. economist, Loukas Karabarbounis writes:
The one dollar, one vote theory of the welfare state contrasts sharply with the widely used "one person, one vote" institution (where the median class is the decisive voter) and the "utilitarian" model of redistribution (where the government chooses redistribution to maximise a weighted average of citizen’s welfare). A natural explanation for the one dollar, one vote result is that political influence is not uniform across groups of voters and that political participation is increasing in income.
