Oligarchy, Underutilized Capacity, and Government Policy

• In Event: Lightning Talk: International and Comparative Political Economy

Brief Overview

We examine an oligarchic economy where only elites establish firms. If the size of the elite is sufficiently small, there is underutilized capacity. Then, the adoption of rather unorthodox left-wing policies may lead to a Pareto improvement.

Author

• Christodoulos Stefanadis, University of Piraeus