Rising Wealth and Income Inequality: What do we know?

Dr. Jairo Morales-Nieto
Executive Director, INAFCON

 

Summary

The background of this article is the failure of neoliberal development economics and policy to uplift fair and equitable market societies. Rather, neoliberal aversion to distribution theories and policies is considered responsible for driving such societies to unacceptable levels of wealth and income concentration and fracturing social cohesion everywhere. Thus, it is time to shift neoliberalism as the dominant development paradigm to correct failures and wrong directions. What is the rationale for this claim? Top world economists are creating a new development world view putting the question of inequality in the centre of their academic research and political motivation to change the order of things. This article tries to unveil the essentials of the new development thoughts on inequality and its consequences. Download the full article