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Growing inequalities in the American model

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  • François Haas

Abstract

Economic inequalities have become a major focus of academic research as well as policy makers’ deliberations. In the United States, while some of the renewed interest in this subject can be attributed to questions surrounding the election of Donald Trump, it is not the only factor: even before the election, the work of Thomas Piketty on the growth in inequalities had already fuelled considerable controversy and had been commented on in numerous research papers. Deliberations on globalisation and openness to trade have also raised questions as to their impact on economic inequalities. As the United States is a society that was founded on the promotion of access to opportunities for all, i.e. on equity and equality of opportunity rather than equality itself, the question as to the balance between inequalities and opportunities (do inequalities foster opportunities or rather do they hinder them?) often arises. This question is particularly pertinent today. Certain commentators have come to the bleak conclusion that the “American dream” has been appropriated by the wealthiest members of society or by a small fraction of the middle class and that the United States is gradually becoming a class-based society.

Suggested Citation

  • François Haas, 2017. "Growing inequalities in the American model," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 48, pages 61-72, Winter.
  • Handle: RePEc:bfr:quarte:2017:48:05
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    References listed on IDEAS

    as
    1. Kevin J. Lansing & Agnieszka Markiewicz, 2018. "Top Incomes, Rising Inequality and Welfare," Economic Journal, Royal Economic Society, vol. 128(608), pages 262-297, February.
    2. Rodrik, Dani, 2017. "Populism and the Economics of Globalization," CEPR Discussion Papers 12119, C.E.P.R. Discussion Papers.
    3. Lindsey, Brink & Teles, Steven, 2017. "The Captured Economy: How the Powerful Become Richer, Slow Down Growth, and Increase Inequality," OUP Catalogue, Oxford University Press, number 9780190627768.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    inequalities; globalisation; redistribution; education; income;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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