Whither Income Inequalities?
AbstractSome major trends in world income inequalities and relevant economic trends are reviewed here. In recent decades, there have been indications of a reversal of the growing income divergence between North and South after over half a millennium, especially in the last two centuries. Meanwhile, income inequalities within most countries have been growing again, increasing social tensions, which may jeopardize growth in some countries and reshape global economic competition. In the 1960s, when the profit rate and capital’s share of national income in Western countries were highest, income inequality within countries was at a historical low. Since the 1980s, the increasing share of profits in national income and rising inequality within countries have gone hand in hand.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 52154.
Date of creation: 11 Dec 2013
Date of revision:
Income inequalities within countries; divergence and convergence in the world economy; share of capital and labor in national income;
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
- I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- N00 - Economic History - - General - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-12-15 (All new papers)
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