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A look at the evolution of income inequality: Piketty against Blacksmith - 60 years later

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  • Lyubimov, Ivan

    () (Russian presidental academy of national economy and public administration)

Abstract

The article compares the two interpretations of the evolution of inequality, one of which was presented by Simon Kuznets in 1955, and the other - by Thomas Piketty 2014. If Smith believed that inequality is reduced when the economy is relatively rich, and thus, the mere economic growth enough to, and increase the level of income in the economy, and reduce the level of income inequality, the Piketty shows that inequality in time becomes more and more and requires coordinated efforts of the authorities of different countries to reduce it. In this paper an attempt is made to use some of the results of Kuznets Piketty and to analyze the current situation with the income inequality in Russia.

Suggested Citation

  • Lyubimov, Ivan, 2016. "A look at the evolution of income inequality: Piketty against Blacksmith - 60 years later," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 27-42, February.
  • Handle: RePEc:rnp:ecopol:ep1605
    as

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    References listed on IDEAS

    as
    1. Milanovic, Branko & Lindert, Peter & Williamson, Jeffrey, 2007. "Measuring Ancient Inequality," MPRA Paper 5388, University Library of Munich, Germany.
    2. Thomas Piketty, 2014. "Capital in the Twenty-First Century: a multidimensional approach to the history of capital and social classes," Post-Print halshs-01157491, HAL.
    3. Deininger, Klaus & Squire, Lyn, 1996. "A New Data Set Measuring Income Inequality," World Bank Economic Review, World Bank Group, vol. 10(3), pages 565-591, September.
    4. Deininger, Klaus & Squire, Lyn, 1998. "New ways of looking at old issues: inequality and growth," Journal of Development Economics, Elsevier, vol. 57(2), pages 259-287.
    5. Saith, Ashwani, 1983. "Development and distribution : A critique of the cross-country U-hypothesis," Journal of Development Economics, Elsevier, vol. 13(3), pages 367-382, December.
    6. Ahluwalia, Montek S, 1976. "Income Distribution and Development: Some Stylized Facts," American Economic Review, American Economic Association, vol. 66(2), pages 128-135, May.
    7. Matthew Higgins & Jeffrey G. Williamson, 1999. "Explaining Inequality the World Round: Cohort Size, Kuznets Curves, andOpenness," NBER Working Papers 7224, National Bureau of Economic Research, Inc.
    8. Deininger, Klaus & Squire, Lyn, 1996. "A New Data Set Measuring Income Inequality," World Bank Economic Review, World Bank Group, vol. 10(3), pages 565-591, September.
    9. Barro, Robert J, 2000. "Inequality and Growth in a Panel of Countries," Journal of Economic Growth, Springer, vol. 5(1), pages 5-32, March.
    10. Bourguignon, F. & Morrisson, C., 1990. "Income distribution, development and foreign trade : A cross-sectional analysis," European Economic Review, Elsevier, vol. 34(6), pages 1113-1132, September.
    11. Ram, Rati, 1988. "Economic development and income inequality: Further evidence on the U-curve hypothesis," World Development, Elsevier, vol. 16(11), pages 1371-1376, November.
    12. Papanek, Gustav F. & Kyn, Oldrich, 1986. "The effect on income distribution of development, the growth rate and economic strategy," Journal of Development Economics, Elsevier, vol. 23(1), pages 55-65, September.
    13. Irina Denisova, 2012. "Income Distribution and Poverty in Russia," OECD Social, Employment and Migration Working Papers 132, OECD Publishing.
    14. Savvides, Andreas & Stengos, Thanasis, 2000. "Income inequality and economic development: evidence from the threshold regression model," Economics Letters, Elsevier, vol. 69(2), pages 207-212, November.
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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    income inequality; economic growth; labor income; annuity; top management;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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