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Advances in Decision Sciences (ADS)

Advances in Decision Sciences (ADS)

Published by Asia University, Taiwan; Scientific and Business World

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Does Political Dominance Impact Economic Inequality?

Does Political Dominance Impact Economic Inequality?

Title

Does Political Dominance Impact Economic Inequality?

Authors

  • Hang Keun Ryu
    (Department of Economics, Chung Ang University, Seoul, Korea)
  • Daniel J. Slottje
    (Department of Economics, Southern Methodist University, Dallas, Texas, USA)

Abstract

This paper examines the relationship between political dominance and economic inequality in the U.S. for the years 1947-2017. Conventional wisdom suggests that when Democrats control Congress and the Presidency, they will pursue policy goals that are inequality reducing through government actions. Republican controlled Congresses and presidencies are presumed to pursue economic growth and limited government intervention policies. However, are these beliefs true? Economic inequality is a broad term with various interpretations. In this paper we adopt a different approach. We consider the distribution of utility that individuals possess, while understanding that of course this depends in part on their income levels. We do find that Democratic presidential administrations correlate with lowering economic inequality and when Republican presidents hold the White House this correlates with increasing levels of economic inequality. However, we find that dominance by a given party in Congress has a negligible impact.

Keywords

Political party dominance; economic inequality trends; utility shifts due to presidential choice

Classification-JEL

P16, D31, H11

Pages

121-149

https://doi.org/10.47654/v24y2020i1p121-149

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ISSN 2090-3359 (Print)
ISSN 2090-3367 (Online)

Asia University, Taiwan

Scientific and Business World

4.7
2023CiteScore
 
86th percentile
Powered by  Scopus
SCImago Journal & Country Rank
Q2 in Scopus
CiteScore 2023 = 4.7
CiteScoreTracker 2024 = 8.5
SNIP 2023 = 0.799
SJR Quartile = Q1
SJR 2024 = 0.814
H-Index = 20

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