Inequality and Growth: Patterns and Policy: Volume I: Concepts and Analysis (International Economic Association Series)

It was part of common wisdom that in the early stages of development inequality would rise, but it would, eventually, decline. As time passed and growth persisted inequality has, however, continued to grow, casting doubt on the received wisdom. "It was a part of the wisdom of mainstream economics that in the early stages of development inequality would rise but as growth persisted, it would, eventually, decline. Early evidence seemed to suggest that this pattern would be borne out. But, as time passed and growth persisted, inequality continued to grow, casting doubt on the received wisdom. The aim of this two-volume book is to analyze the current state of global and regional inequality, dissect the phenomenal increase in inequality that we have seen occur in recent times, and better understand the complex relationship between inequality and development. The political instability and conflict that we see around the world, arguably, has connection to economic deprivation of large segments of society and the perception of marginalization. This two-volume work acquires a special significance in the light of these developments"-- Provided by publisher

It was a part of the wisdom of mainstream economics that in the early stages of development inequality would rise but as growth persisted, it would, eventually, decline. Early evidence seemed to suggest that this pattern would be borne out. But, as time passed and growth persisted, inequality continued to grow, casting doubt on the received wisdom. The aim of this two-volume book is to analyze the current state of global and regional inequality, dissect the phenomenal increase in inequality that we have seen occur in recent times, and better understand the complex relationship between inequality and development. The political instability and conflict that we see around the world, arguably, has connection to economic deprivation of large segments of society and the perception of marginalization. This two-volume work acquires a special significance in the light of these developments.

Front Matter....Pages i-xxix New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals....Pages 1-71 Reflections on the “Equity and Development” World Development Report Ten Years Later....Pages 72-100 Person Equivalent Headcount Measures of Poverty....Pages 101-130 How Useful Is Inequality of Opportunity as a Policy Construct?....Pages 131-150 Toward a New Definition of Shared Prosperity: A Dynamic Perspective from Three Countries....Pages 151-171 Behavioral Economics and Social Exclusion: Can Interventions Overcome Prejudice?....Pages 172-200 The Effects of Fiscal Redistribution....Pages 201-224 Inequality of Happiness: Evidence of the Compression of the Subjective-Wellbeing Distribution with Economic Growth....Pages 225-249 Back Matter....Pages 250-256 "The first volume on concepts and analysis is a collection of chapters on the conceptual and theoretical issues on inequality and its measurements. The second volume examines the state of inequality globally and in different regions, and analyzes other kinds of inequality and discrimination."--Publisher's description