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Inequality and Economic Growth

Stiglitz, Joseph E.

This chapter argues in favour of alternative explanations of inequality, with particular reference to the theory of rent-seeking and to the influence of institutional and political factors, which have shaped labour markets and patterns of remuneration. And it shows that, far from being either necessary or good for economic growth, excessive inequality tends to lead to weaker economic performance. In light of this, it argues for a range of policies that would increase both equity and economic well-being.

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Also Published In

Title
Rethinking Capitalism
Publisher
Wiley-Blackwell

More About This Work

Academic Units
Economics
Published Here
April 15, 2019

Notes

Also published in Chinese in Comparative Economic & Social Systems.

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