Inequality of opportunity and economic development

"Just as equality of opportunity becomes an increasingly prominent concept in normative economics, the authors argue that it is also a relevant concept for positive models of the links between distribution and aggregate efficiency. Persuasive microeconomic evidence suggests that inequalities in...

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Main Author: Ferreira, Francisco H. G.
Corporate Author: World Bank
Other Authors: Walton, Michael
Format: eBook
Language:English
Published: [Washington, D.C] World Bank 2006, [2006]
Series:Policy research working paper
Subjects:
Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
Summary:"Just as equality of opportunity becomes an increasingly prominent concept in normative economics, the authors argue that it is also a relevant concept for positive models of the links between distribution and aggregate efficiency. Persuasive microeconomic evidence suggests that inequalities in wealth, power, and status have efficiency costs. These variables capture different aspects of people's opportunity sets, for which observed income may be a poor proxy. One implication is that the cross-country literature on income inequality and growth may have been barking up the wrong tree, and that alternative measures of the relevant distributions are needed. The authors review some of the detailed microeconomic evidence, and then suggest three research areas where further work is needed. "--World Bank web site
Item Description:Includes bibliographical references. - Title from PDF file as viewed on 1/13/2006
Physical Description:Online-Ressource