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Working For the Few: Political Capture and Economic Inequality

Author

Listed:
  • Fuentes-Nieva, Ricardo
  • Galasso, V. Nicholas

Abstract

Economic inequality is rapidly increasing in the majority of countries. The wealth of the world is divided in two: almost half going to the richest one percent; the other half to the remaining 99 percent. The World Economic Forum has identified this as a major risk to human progress. Extreme economic inequality and political capture are too often interdependent. Left unchecked, political institutions become undermined and governments overwhelmingly serve the interests of economic elites to the detriment of ordinary people.

Suggested Citation

  • Fuentes-Nieva, Ricardo & Galasso, V. Nicholas, 2014. "Working For the Few: Political Capture and Economic Inequality," MPRA Paper 54984, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:54984
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    File URL: https://mpra.ub.uni-muenchen.de/54984/1/MPRA_paper_54984.pdf
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    Citations

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    Cited by:

    1. Déborah Itriago, 2016. "Wielding Influence, Building Inequality: Capture of Tax Policies in Latin America and the Caribbean," Development, Palgrave Macmillan;Society for International Deveopment, vol. 59(1), pages 151-157, June.
    2. Unesco Unesco, 2015. "Water for a Sustainable World," Working Papers id:6657, eSocialSciences.
    3. Azmat, Saad & Ayub, Ahmad & Brown, Kym & Skully, Michael, 2020. "The inequality debate: Do financial markets matter?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
    4. Mark Horowitz & Robert Hughes, 2018. "Political Identity and Economists’ Perceptions of Capitalist Crises," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(1), pages 173-193, March.
    5. Johnston, David W. & Menon, Nidhiya, 2022. "Income and views on minimum living standards," Journal of Economic Behavior & Organization, Elsevier, vol. 199(C), pages 18-34.
    6. Hinton, Jennifer B., 2022. "Limits to Profit? A conceptual framework for understanding profit and sustainability," Working Paper Series 02/2022, Post-Growth Economics Network (PEN).
    7. Delphin Kamanda Espoir & Nicholas Ngepah, 2021. "Income distribution and total factor productivity: a cross-country panel cointegration analysis," International Economics and Economic Policy, Springer, vol. 18(4), pages 661-698, October.
    8. Hakeem, Muhammad Mohsin, 2019. "Innovative solutions to tap “Micro, Small and Medium Enterprises” (MSME) market A way forward for Islamic banks," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 27, pages 38-52.
    9. Ace Simpson & Miguel Pina e Cunha & Arménio Rego, 2015. "Compassion in the Context of Capitalistic Organizations: Evidence from the 2011 Brisbane Floods," Journal of Business Ethics, Springer, vol. 130(3), pages 683-703, September.
    10. Schneider, Anselm & Hinton, Jennifer & Collste, David & González, Tais Sonetti & Cortes-Calderon, Sofia Valeria & Aguiar, Ana Paula, 2019. "Matters arising: Can transnational corporations leverage systemic change towards a "sustainable" future?," SocArXiv c4ak5, Center for Open Science.
    11. James Andreoni & Nikos Nikiforakis & Jan Stoop, 2017. "Are the Rich More Selfish than the Poor, or Do They Just Have More Money? A Natural Field Experiment," NBER Working Papers 23229, National Bureau of Economic Research, Inc.
    12. David Mayer-Foulkes, 2015. "The Challenge of Market Power under Globalization," Review of Development Economics, Wiley Blackwell, vol. 19(2), pages 244-264, May.
    13. Marius Leckelt & Johannes König & David Richter & Mitja D. Back & Carsten Schröder, 2022. "The personality traits of self-made and inherited millionaires," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-12, December.
    14. Sitthiyot, Thitithep & Holasut, Kanyarat, 2016. "On Income Inequality and Population Size," MPRA Paper 73684, University Library of Munich, Germany.

    More about this item

    Keywords

    inequality; economic inequality; wealth inequality; income inequality; democracy; political representation;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • F6 - International Economics - - Economic Impacts of Globalization
    • H1 - Public Economics - - Structure and Scope of Government
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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