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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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    References listed on IDEAS

    as
    1. Telser,Lester G., 1987. "A Theory of Efficient Cooperation and Competition," Cambridge Books, Cambridge University Press, number 9780521306195, March.
    2. Singh, Ajit, 1989. "Third World Competition and De-industrialisation in Advanced Countries," Cambridge Journal of Economics, Oxford University Press, vol. 13(1), pages 103-120, March.
    3. Scherer, F M, 1992. "Schumpeter and Plausible Capitalism," Journal of Economic Literature, American Economic Association, vol. 30(3), pages 1416-1433, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. 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.
    2. Unesco Unesco, 2015. "Water for a Sustainable World," Working Papers id:6657, eSocialSciences.

    More about this item

    Keywords

    inequality; economic inequality; wealth inequality; income inequality; democracy; political representation;

    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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