Date: 26 November 2015
Geoffrey Brennan, Professor at the College of Arts and Social Sciences, Australian National University
This paper propounds and explicates an 'Iron Law of inter-temporal income dispersion transmission' – the proposition that there is a long-term positive relationship between the income elasticity of family size and the degree of inequality in the ensuing generation. In the Malthusian era when that elasticity was positive the Iron Law spelled increased equality; but in the modern era, when the income elasticity is negative, the Iron Law is producing ever increasing inequality (and will continue to do so while ever the sign of the elasticity remains negative).
An economist by training, Geoffrey Brennan works actively on issues at the intersection of economics, rationality, and political philosophy.
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