Redistribution of income and wealth
Redistribution of income and redistribution of wealth are respectively the transfer of income and of wealth (including physical property) from some individuals to others by means of a social mechanism such as taxation, charity, welfare, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals, and it always refers to redistributions from those who have more to those who have less.
The desirability and effects of redistribution are actively debated on ethical and economic grounds. The subject includes analysis of its rationales, objectives, means, and policy effectiveness. A 2003 survey among American economists found that 71.2% of them support redistribution, while 20.4% oppose it, 7.2% had mixed feelings.
History
In ancient times, this was known as a Palace economy. These economies were centrally based around the administration, so the dictator or pharaoh had both the ability and the right to say who did(and did not) get special treatment.