Status and income inequality in a knowledge economy

Baochun Peng

Research output: Journal article publicationJournal articleAcademic researchpeer-review

Abstract

This paper models a market for status contained in a knowledge economy. Technological progress favours the knowledge sector and inequality of income rises with productivity. We show that the expected utility of all agents can fall while output and productivity grow; and such an outcome of “immiserizing growth” hinges crucially upon the combination of concern for status and technology-induced rises in inequality.
Original languageEnglish
Pages (from-to)581-595
Number of pages15
JournalJournal of Economic Inequality
Volume12
Issue number4
DOIs
Publication statusPublished - 1 Jan 2014

Keywords

  • Growth
  • Happiness
  • Inequality
  • Knowledge economy
  • Status

ASJC Scopus subject areas

  • Sociology and Political Science
  • Economics, Econometrics and Finance(all)
  • Organizational Behavior and Human Resource Management

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