Description
Book SynopsisIn the era of globalization and liberalization, the world is enjoying high growth as well as suffering from the ill-effects of unequal distribution of its economic outcomes. The activities of anti-government demonstrations in China and across the world via the Occupy Wall Street Movement highlight that inequality has become an international phenomenon. It is apparent in both poor countries under authoritarianism and rich countries governed by a democratic regime. Thus, inequality has become not only a hurdle to development but also a threat to social and political stability. The spread of the Jasmine Revolution across parts of North Africa and the Arab Spring are illustrative of what can happen under certain circumstances.This book confirms the inconsistencies between high growth and increasing inequality via a series of case studies across 11 countries, numerous regions, and OECD members. Many of the case studies draw upon original household surveys. Our findings indicate the seriousness of income inequality, explore factors that have caused the inequality and analyze their economic and social consequences.The book raises, and deals with, three key questions: (1) Can high growth reduce inequality gradually? (2) Can government intervention be effective in equalizing income distribution? (3) Is the income disparity an engine for, or an obstacle of, high growth?
Table of ContentsGlobalization, Liberalization, Growth and Income Inequality: Inequality in China; Inequality in Hong Kong; Inequality in the USA; Inequality in India; Inequality in Germany; Inequality in Korea; Inequality in the UK; Inequality in Indonesia; Inequality in Thailand; Inequality in Singapore; Inequality in Japan; Factor Analysis on the Income Inequality: Informal Employment and Income Disparity; Educational Disparity and Income Disparity; Agricultural and Income Inequality; Housing Disparity and Income Inequality; Labor Migration and Income Disparity; Income Inequality and the Lewis Tuning Point; Income Inequality in OECD Countries.
