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Inequality And Stagnation
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Book Synopsis The Great Stagnation by : Tyler Cowen
Download or read book The Great Stagnation written by Tyler Cowen and published by Penguin. This book was released on 2011-01-25 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tyler Cowen’s controversial New York Times bestseller—the book heard round the world that ignited a firestorm of debate and redefined the nature of America’s economic malaise. America has been through the biggest financial crisis since the great Depression, unemployment numbers are frightening, media wages have been flat since the 1970s, and it is common to expect that things will get worse before they get better. Certainly, the multidecade stagnation is not yet over. How will we get out of this mess? One political party tries to increase government spending even when we have no good plan for paying for ballooning programs like Medicare and Social Security. The other party seems to think tax cuts will raise revenue and has a record of creating bigger fiscal disasters that the first. Where does this madness come from? As Cowen argues, our economy has enjoyed low-hanging fruit since the seventeenth century: free land, immigrant labor, and powerful new technologies. But during the last forty years, the low-hanging fruit started disappearing, and we started pretending it was still there. We have failed to recognize that we are at a technological plateau. The fruit trees are barer than we want to believe. That's it. That is what has gone wrong and that is why our politics is crazy. In The Great Stagnation, Cowen reveals the underlying causes of our past prosperity and how we will generate it again. This is a passionate call for a new respect of scientific innovations that benefit not only the powerful elites, but humanity as a whole.
Book Synopsis Neoliberalism and the Road to Inequality and Stagnation by : Palley, Thomas I.
Download or read book Neoliberalism and the Road to Inequality and Stagnation written by Palley, Thomas I. and published by Edward Elgar Publishing. This book was released on 2021-11-05 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tom Palley has made a significant contribution to understanding the meaning and significance of neoliberalism. This chronicle collects some of his best work to explain how global adoption of neoliberal policies over the past thirty years has increased income inequality and created tendencies to stagnation.
Book Synopsis Social Inequality in Post-Growth Japan by : David Chiavacci
Download or read book Social Inequality in Post-Growth Japan written by David Chiavacci and published by Taylor & Francis. This book was released on 2016-09-13 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades Japan has changed from a strongly growing, economically successful nation regarded as prime example of social equality and inclusion, to a nation with a stagnating economy, a shrinking population and a very high proportion of elderly people. Within this, new forms of inequality are emerging and deepening, and a new model of Japan as 'gap society' (kakusa shakai) has become common-sense. These new forms of inequality are complex, are caused in different ways by a variety of factors, and require deep-seated reforms in order to remedy them. This book provides a comprehensive overview of inequality in contemporary Japan. It examines inequality in labour and employment, in welfare and family, in education and social mobility, in the urban-rural divide, and concerning immigration, ethnic minorities and gender. The book also considers the widespread anxiety effect of the fear of inequality; and discusses how far these developments in Japan represent a new form of social problem for the wider world.
Download or read book Unbound written by Heather Boushey and published by Harvard University Press. This book was released on 2019-10-15 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Financial Times Book of the Year “The strongest documentation I have seen for the many ways in which inequality is harmful to economic growth.” —Jason Furman “A timely and very useful guide...Boushey assimilates a great deal of recent economic research and argues that it amounts to a paradigm shift.” —New Yorker Do we have to choose between equality and prosperity? Decisions made over the past fifty years have created underlying fragilities in our society that make our economy less effective in good times and less resilient to shocks, such as today’s coronavirus pandemic. Many think tackling inequality would require such heavy-handed interference that it would stifle economic growth. But a careful look at the data suggests nothing could be further from the truth—and that reducing inequality is in fact key to delivering future prosperity. Presenting cutting-edge economics with verve, Heather Boushey shows how rising inequality is a drain on talent, ideas, and innovation, leading to a concentration of capital and a damaging under-investment in schools, infrastructure, and other public goods. We know inequality is fueling social unrest. Boushey shows persuasively that it is also a serious drag on growth. “In this outstanding book, Heather Boushey...shows that, beyond a point, inequality damages the economy by limiting the quantity and quality of human capital and skills, blocking access to opportunity, underfunding public services, facilitating predatory rent-seeking, weakening aggregate demand, and increasing reliance on unsustainable credit.” —Martin Wolf, Financial Times “Think rising levels of inequality are just an inevitable outcome of our market-driven economy? Then you should read Boushey’s well-argued, well-documented explanation of why you’re wrong.” —David Rotman, MIT Technology Review
Book Synopsis Macroeconomic Inequality from Reagan to Trump by : Lance Taylor
Download or read book Macroeconomic Inequality from Reagan to Trump written by Lance Taylor and published by Cambridge University Press. This book was released on 2020-08-20 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: An innovative approach to measuring inequality providing the first full integration of distributional and macro level data for the US.
Book Synopsis Secular Stagnation Theories by : Christina Anselmann
Download or read book Secular Stagnation Theories written by Christina Anselmann and published by Springer Nature. This book was released on 2020-04-17 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of weak economic performances and rising income disparities across the developed world during the past decades, this book provides a comprehensive overview of secular stagnation theories in the history of economic thought and examines the role of income distribution in various stagnation hypotheses. By offering a historical perspective, from the classical economists to the most recent stagnation debate of the early twenty-first century, the author shows that most stagnation theories were developed in periods of high and/or rising income disparities. Eventually, it was Josef Steindl, one of the least recognized stagnationists in the history of economic thought, who put the distribution of income at the heart of his stagnation theory. While Josef Steindl focused on the nexus between the functional distribution of income and economic growth, this book includes the personal distribution of income in a Kaleckian-Steindlian model of economic growth and stagnation. In the model presented, the nexus between economic growth and the distribution of income is a priori uncertain, depending on the type of economic shock and the specific economic circumstances. The author also discusses various empirically oriented policy implications aimed at fostering both economic growth and a more equal distribution of income. This book appeals to scholars in economics and the history of economic thought interested in economic growth, secular stagnation, and income distribution.
Book Synopsis The Complacent Class by : Tyler Cowen
Download or read book The Complacent Class written by Tyler Cowen and published by St. Martin's Press. This book was released on 2017-02-28 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the trend of Americans away from the traditionally mobile, risk-accepting, and adaptable tendencies that defined them for much of recent history, and toward stagnation and comfort, and how this development has the potential to make future changes more disruptive. --Publisher's description.
Book Synopsis America's Inequality Trap by : Nathan J. Kelly
Download or read book America's Inequality Trap written by Nathan J. Kelly and published by University of Chicago Press. This book was released on 2020-02-11 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: The gap between the rich and the poor has grown dramatically in the United States and is now at its widest since at least the early 1900s. While by most measures the economy has been improving, soaring cost of living and stagnant wages have done little to assuage economic anxieties. Conditions like these seem designed to produce a generation-defining intervention to balance the economic scales and enhance opportunities for those at the middle and bottom of the country’s economic ladder—but we have seen nothing of the sort. Nathan J. Kelly argues that a key reason for this is that rising concentrations of wealth create a politics that makes reducing economic inequality more difficult. Kelly convincingly shows that, when a small fraction of the people control most of the economic resources, they also hold a disproportionate amount of political power, hurtling us toward a self-perpetuating plutocracy, or an “inequality trap.” Among other things, the rich support a broad political campaign that convinces voters that policies to reduce inequality are unwise and not in the average voter’s interest, regardless of the real economic impact. They also take advantage of interest groups they generously support to influence Congress and the president, as well as state governments, in ways that stop or slow down reform. One of the key implications of this book is that social policies designed to combat inequality should work hand-in-hand with political reforms that enhance democratic governance and efforts to fight racism, and a coordinated effort on all of these fronts will be needed to reverse the decades-long trend.
Book Synopsis Falling Inequality in Latin America by : Giovanni Andrea Cornia
Download or read book Falling Inequality in Latin America written by Giovanni Andrea Cornia and published by Oxford University Press, USA. This book was released on 2014 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents and explains the reduction of income inequality that has taken place in the majority of Latin American countries over the last decade.
Book Synopsis Redistribution, Inequality, and Growth by : Mr.Jonathan David Ostry
Download or read book Redistribution, Inequality, and Growth written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2014-02-17 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.
Book Synopsis Inequality and Growth by : Theo S. Eicher
Download or read book Inequality and Growth written by Theo S. Eicher and published by MIT Press. This book was released on 2003 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays exploring the relationship between economic growth and inequality and the implications for policy makers.
Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Book Synopsis Agent-Based Models in Economics by : Domenico Delli Gatti
Download or read book Agent-Based Models in Economics written by Domenico Delli Gatti and published by Cambridge University Press. This book was released on 2018-03-22 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first step-by-step introduction to the methodology of agent-based models in economics, their mathematical and statistical analysis, and real-world applications.
Book Synopsis The Budget and Economic Outlook by :
Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Political Economy of Collective Action, Inequality, and Development by : William D. Ferguson
Download or read book The Political Economy of Collective Action, Inequality, and Development written by William D. Ferguson and published by Stanford University Press. This book was released on 2020-05-05 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how a society that is trapped in stagnation might initiate and sustain economic and political development. In this context, progress requires the reform of existing arrangements, along with the complementary evolution of informal institutions. It involves enhancing state capacity, balancing broad avenues for political input, and limiting concentrated private and public power. This juggling act can only be accomplished by resolving collective-action problems (CAPs), which arise when individuals pursue interests that generate undesirable outcomes for society at large. Merging and extending key perspectives on CAPs, inequality, and development, this book constructs a flexible framework to investigate these complex issues. By probing four basic hypotheses related to knowledge production, distribution, power, and innovation, William D. Ferguson offers an analytical foundation for comparing and evaluating approaches to development policy. Navigating the theoretical terrain that lies between simplistic hierarchies of causality and idiosyncratic case studies, this book promises an analytical lens for examining the interactions between inequality and development. Scholars and researchers across economic development and political economy will find it to be a highly useful guide.
Download or read book Fully Grown written by Dietrich Vollrath and published by University of Chicago Press. This book was released on 2022-06-24 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vollrath challenges our long-held assumption that growth is the best indicator of an economy’s health. Most economists would agree that a thriving economy is synonymous with GDP growth. The more we produce and consume, the higher our living standard and the more resources available to the public. This means that our current era, in which growth has slowed substantially from its postwar highs, has raised alarm bells. But should it? Is growth actually the best way to measure economic success—and does our slowdown indicate economic problems? The counterintuitive answer Dietrich Vollrath offers is: No. Looking at the same facts as other economists, he offers a radically different interpretation. Rather than a sign of economic failure, he argues, our current slowdown is, in fact, a sign of our widespread economic success. Our powerful economy has already supplied so much of the necessary stuff of modern life, brought us so much comfort, security, and luxury, that we have turned to new forms of production and consumption that increase our well-being but do not contribute to growth in GDP. In Fully Grown, Vollrath offers a powerful case to support that argument. He explores a number of important trends in the US economy: including a decrease in the number of workers relative to the population, a shift from a goods-driven economy to a services-driven one, and a decline in geographic mobility. In each case, he shows how their economic effects could be read as a sign of success, even though they each act as a brake of GDP growth. He also reveals what growth measurement can and cannot tell us—which factors are rightly correlated with economic success, which tell us nothing about significant changes in the economy, and which fall into a conspicuously gray area. Sure to be controversial, Fully Grown will reset the terms of economic debate and help us think anew about what a successful economy looks like.
Book Synopsis The Crisis of the Middle-Class Constitution by : Ganesh Sitaraman
Download or read book The Crisis of the Middle-Class Constitution written by Ganesh Sitaraman and published by Vintage. This book was released on 2017-03-14 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this original, provocative contribution to the debate over economic inequality, Ganesh Sitaraman argues that a strong and sizable middle class is a prerequisite for America’s constitutional system. A New York Times Notable Book of 2017 For most of Western history, Sitaraman argues, constitutional thinkers assumed economic inequality was inevitable and inescapable—and they designed governments to prevent class divisions from spilling over into class warfare. The American Constitution is different. Compared to Europe and the ancient world, America was a society of almost unprecedented economic equality, and the founding generation saw this equality as essential for the preservation of America’s republic. Over the next two centuries, generations of Americans fought to sustain the economic preconditions for our constitutional system. But today, with economic and political inequality on the rise, Sitaraman says Americans face a choice: Will we accept rising economic inequality and risk oligarchy or will we rebuild the middle class and reclaim our republic? The Crisis of the Middle-Class Constitution is a tour de force of history, philosophy, law, and politics. It makes a compelling case that inequality is more than just a moral or economic problem; it threatens the very core of our constitutional system.
