A service provided by the WU Library and the WU IT-Services

The process of wealth accumulation with regard to the path dependence theory

Kranzinger, Stefan (2016) The process of wealth accumulation with regard to the path dependence theory. Momentum Quarterly, 5 (1). pp. 36-53. ISSN 2226-5538

[img]
Preview
PDF
Available under License Creative Commons: Attribution 4.0 International (CC BY 4.0).

Download (975Kb) | Preview

Abstract

This paper analyses the process of wealth accumulation with regard to the path dependence theory. Based on the theoretical foundations of Robert King Merton, Vilfredo Pareto and Pierre Bourdieu, mechanisms of wealth accumulation are analyzed. These mechanisms, which are understood as direct and indirect network effects, are formalized using the statistical computing software R. A base model without any mechanisms of wealth accumulation is developed, which makes it possible to include the analyzed mechanisms step by step and observe their effects on the process of wealth accumulation and social inequality. Piketty's findings from his work Capital in the 21st Century are included in the formalized models of wealth accumulation, in particular the relationship between the rate of return on capital and the growth rate of the economy. (author's abstract)

Item Type: Article
Keywords: social inequality / wealth accumulation / wealth Transmission / path dependence
Divisions: Forschungsinstitute > Verteilungsfragen
Depositing User: Gertraud Novotny
Date Deposited: 12 Sep 2016 13:49
Last Modified: 12 Sep 2016 15:07
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/76967/
URI: http://epub.wu.ac.at/id/eprint/5169

Actions

View Item