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Whither Income Inequalities?

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  • Sundaram, Jomo Kwame
  • Popov, Vladimir

Abstract

Some 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.

Suggested Citation

  • Sundaram, Jomo Kwame & Popov, Vladimir, 2013. "Whither Income Inequalities?," MPRA Paper 52154, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:52154
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    References listed on IDEAS

    as
    1. Thomas Philippon & Ariell Reshef, 2009. "Wages and Human Capital in the U.S. Financial Industry: 1909-2006," NBER Working Papers 14644, National Bureau of Economic Research, Inc.
    2. V. Popov., 2013. "Global Imbalances: An Unconventional View," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
    3. Dani Rodrik, 2006. "The social cost of foreign exchange reserves," International Economic Journal, Taylor & Francis Journals, vol. 20(3), pages 253-266.
    4. Jomo K.S. & M. Rock, 1998. "Economic Diversification And Primary Commodity Processing In The Second-Tier South-East Asian Newly Industrializing Countries," UNCTAD Discussion Papers 136, United Nations Conference on Trade and Development.
    5. Ricardo Hausmann & Jason Hwang & Dani Rodrik, 2007. "What you export matters," Journal of Economic Growth, Springer, vol. 12(1), pages 1-25, March.
    6. Vladimir Popov, 2010. "Global Imbalances: Non-conventional View," Working Papers w0160, Center for Economic and Financial Research (CEFIR).
    7. Vladimir Popov, 2012. "Russia: austerity and deficit reduction in historical and comparative perspective," Cambridge Journal of Economics, Oxford University Press, vol. 36(1), pages 313-334.
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    Cited by:

    1. Popov, Vladimir, 2014. "Socialism is dead, long live socialism!," MPRA Paper 54294, University Library of Munich, Germany.

    More about this item

    Keywords

    Income inequalities within countries; divergence and convergence in the world economy; share of capital and labor in national income;

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • 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

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