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Is rising income inequality far from inevitable during structural transformation? A proposal for an augmented inequality dynamics

Journal of Economics and Political Economy

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Title Is rising income inequality far from inevitable during structural transformation? A proposal for an augmented inequality dynamics
 
Creator BAEK, Seung Jin; United Nations Economic and Social Commission for Western Asia
 
Subject Economic inequality; Structural transformation; Kuznets curve; Rostow's stages of economic growth; Rawls's difference principle
D63; L15; O10
 
Description Abstract. This paper examines whether rising income inequality is the stylised fact for the process of structural transformation by revisiting classical accounts on the transformation-inequality nexus, with a particular focus on Kuznets’s and Rostow’s theories of development and Rawls’s difference principle. In addition, a complex interaction between structural transformation and income inequality is analysed by exploring the multi-dimensions of inequality dynamics to link Kuznets-Rostow-Rawls. This critical review allows us to conclude that rising income inequality is far from inevitable by introducing a proposal for what it calls ‘augmented inequality dynamics’ which attempts to systematize circulating societal processes through social, economic, political and moral dimensions. This explains how income inequality is used to incentivise or restrain the process of various societal interactions by itself going up and down repeatedly in the context of structural transformation.Keywords. Economic inequality, Structural transformation, Kuznets curve, Rostow's stages of economic growth, Rawls's difference principle.JEL. D63, L15, O10.
 
Publisher Journal of Economics and Political Economy
Journal of Economics and Political Economy
 
Contributor —
 
Date 2017-09-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEPE/article/view/1296
10.1453/jepe.v4i3.1296
 
Source Journal of Economics and Political Economy; Vol 4, No 3 (2017): September; 224-237
Journal of Economics and Political Economy; Vol 4, No 3 (2017): September; 224-237
2148-8347
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEPE/article/view/1296/1356
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http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1296/638
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1296/639
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1296/640
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1296/641
 
Rights Copyright (c) 2017 Journal of Economics and Political Economy
http://creativecommons.org/licenses/by-nc/4.0