Economic Development as Opportunity Equalization
AbstractThe justification of using GNP per capita as a measure of economic development is utilitarian ethics plus an assumption that no needs are more urgent than others. Here, we advocate a measure of economic development based on the degree to which the society in question has equalized opportunities for the acquisition of income. In highly developed economies, inequality of opportunity accounts for less than 10% of total inequality, while in developing economies, it accounts for over 30%.
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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1583.
Length: 25 pages
Date of creation: Sep 2006
Date of revision:
Publication status: Published in The World Bank Economic Review, Advance Access published August 8, 2013
Note: CFP 1397
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Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA
Phone: (203) 432-3702
Fax: (203) 432-6167
Web page: http://cowles.econ.yale.edu/
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
Other versions of this item:
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-09-30 (All new papers)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:CitEc Project, subscribe to its RSS feed for this item.
- Ashish Singh, 2011.
"Inequality of Opportunity in Indian Children: The Case of Immunization and Nutrition,"
Population Research and Policy Review,
Springer, vol. 30(6), pages 861-883, December.
- Singh, Ashish, 2010. "Inequality of opportunity in Indian children: the case of immunization and nutrition," MPRA Paper 32505, University Library of Munich, Germany.
- World Bank, 2012. "Well Begun, Not Yet Done : Vietnam's Remarkable Progress on Poverty Reduction and the Emerging Challenges," World Bank Other Operational Studies 12326, The World Bank.
- Ashish Singh, 2010. "The Effect of Family Background on Individual Wages and an Examination of Inequality of Opportunity in India," Journal of Labor Research, Springer, vol. 31(3), pages 230-246, September.
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