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April 8th, 2017, 05:39 PM
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IGIDR Working Papers

My father is searching for IGIDR Working Paper: The Problem of Inequality. He said me to also searching for these papers. So is there anybody who can provide link to download IGIDR Working Paper: The Problem of Inequality?
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  #2  
April 9th, 2017, 11:02 AM
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Re: IGIDR Working Papers

As you are searching for IGIDR Working Paper: The Problem of Inequality, so here I am providing following Working Papers:

IGIDR Working Paper: The Problem of Inequality
NO : WP-2016-029

AUTHOR : S. Mahendra Dev

TITLE : The Problem of Inequality

Inequality is the most discussed development problem all over the world. Development can’t be discussed without talking about inequality. The paper addresses two questions:
(a) What are the dimensions and trends in inequality at global level and India?
(b) How do we tackle rising inequalities at policy level?

1. INTRODUCTION
Inequality has been an important issue in development debates. Development can not be
discussed without talking about inequality. Theories of income distribution have been in the
literature of economics from before Adam Smith to the present day. Ricardo characterises
income distribution as the principal problem of economics (Sandmo, 2015). Several
philosophers and economists have discussed about inequality2
. In recent years, rising income
inequality has attracted the attention of IMF, World Bank, OECD and Davos meetings. Arab
Spring and Brexit also brought this issue to the limelight. The number of billionairs is
increasing throughout the world with larger share in income and wealth. With the release of
the book by French economist Thomas Piketty (2014), there has been more debate on
inequality in several parts of the world. European economists have written more about
inequality than American economists although inequality is rising in the US3

First time at global level, a goal on inequality is included in Sustainable Development Goals
(SDGs). Goal 10 of SDGs is about reduction in inequality within and among countries.
Target 1 of Goal 10 says “ By 2030, progressively achieve and sustain income growth of the
bottom 40 per cent of the population at a rate higher than the national average”. Target 2 tries to achieve much more ambitious one: “By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status”.

There are two main arguments for reduction in inequlity. One is ethical or philosophical
argument that equity is important for its own sake (intrinsic value). Second one is reduction
in inequality is required for sustainability of growth (instrumental value). The related one is
that even if one is concerned only with poverty, inequality can’t be ignored as rise in
inequality would adversely affect poverty reduction.

2. DIMENSIONS OF INEQUALITY AT GLOBAL LEVEL
Dabla-Norris et al (2015) study from IMF examines trends in inequality of income and
opportunities at global level. The main conclusions of the study on levels and trends are the
following: (1) Global inequality is high and ranges from 0.55 to 0.70 depending on the
measure used; (2) Inequalities have widened within countries. They have increased
substantially in most of the advanced countries. Although inequality remained stable for the
group of emerging market developing countries (EMDCs), there are large disparities in levels
and trends across countries. Inequality increased in Asia and Eastern Europe while it declined
in Latin America although levels are higher in the latter set of countries; (3) In advanced
countries, inequality is primarily driven by the growing income share of the top 10 per cent
which has income close to nine times to that of the bottom 10 per cent. However, in the case
of EMDCs, the rise in inequality is primarily due to shift in incomes from middle class to
upper class (e.g. China and South Africa). Gini coefficient in wealth is almost double to that
of income in many countries; (4) Inequality in health outcome and access to health care is
high in developing countries. On the other hand, one notices declining inequality in education
in EMDCs. Disparities in access to financial services between advanced countries and
EMDCs are high.

A recent World Bank study (2016) examines latest trends in inequalities in
income/consumption across the world. Some of the conclusions of the study are the
following: (a) Global inequality in per capita income steadily increased from the year 1820 to
the 1990s5. However, Gini index in recent years fell from 66.8 in 2008 to 62.5 in 2013. This
decline in global inequality was due to convergence in average incomes due to rising incomes
in populous countries such as China and India. This led to reduction in between country
inequality. But within country inequality rose over time; (b) Income/consumption surveys
based data shows that inequality increased in 42 countries while it declined in 39 countries
for the long period 1993-2008 (Table 1). The populous countries where inequality rose
include Bangladesh (5 points), China (7 points) and Indonesia (5 points). In the more recent
short period (2008-13), inequality declined in 41 countries while it increased in 19 countries
(Table 1); (c) The report offers some lessons on the decline in inequality in Brazil (5.5
points), Cambodia (11 points), Mali (6.9 points), Peru (7.1) and Tanzania (2.7 points) in the
recent period (2008-13).

Inequality and Growth : Kuznets inverted U shape, U shape and Kuznets Waves
The story of inequality and growth can be started from Kuznets inverted U shape which
shows that inequality increases initially and later falls with economic growth. Piketty’s work
on the US and Europe is well known (Piketty, 2014). The main merit of his book is the
massive collection of historical data for several countries. In the 18th and 19th centuries
western European society was highly unequal. But inequality declined and stabilized during
1910-70. Again income inequality has been rising since then. In contrast to Kuznets inverted
U shape curve, Picketty’s data indicated U shaped curve. From this history, Piketty develops
a grand theory of capital and inequality.

IGIDR Working Paper: The Problem of Inequality
igidr.ac.in/pdf/publication/WP-2016-029.pdf


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