All Articles tagged income

• Book Reviews
  July 29, 2023 CDT
  Book Review: The Myth of American Inequality: How Government Biases Policy Debate
  Morgan Reynolds

  Gramm, Ekelund, and Early's important new book shows how government agencies ignore welfare benefits and taxes when calculating actual income, resulting in overblown poverty and inequality numbers.

  Abstract
• Notes and Replies
  September 28, 2020 CDT
  Income and Substitution Effects: A Rejoinder to Professor Joseph Salerno
  Karl-Friedrich Israel

  Karl-Friedrich Israel responds to Joseph Salerno on the matter of the income effect, arguing that his approach is closer to the Slutsky decomposition than the Hicks decomposition.

  Abstract
• Notes and Replies
  March 21, 2020 CDT
  The Wealth Effect and the Law of Demand: A Comment on Karl-Friedrich Israel
  Joseph Salerno

  Addressing a problem that Karl-Friedrich Israel perceived in Salerno's chapter "The 'Income Effect' in Causal-Realist Price Theory," Salerno contends that Israel's resolution implies a denial of the law of demand.

  Abstract
• Articles
  April 15, 2019 CDT
  The Income Effect Reconsidered
  Karl-Friedrich Israel

  There is a type of income effect in Austrian or causal-realist price theory, and the difference between neoclassical and Austrian microeconomics is smaller than has been portrayed, says Karl-Friedrich Israel.

  Abstract