Confronting Inequality

How Societies Can Choose Inclusive Growth

Inbunden, Engelska, 2019

AvJonathan D. Ostry,Prakash Loungani,Andrew Berg

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Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy.Jonathan D. Ostry, Prakash Loungani, and Andrew Berg demonstrate that the extent of inequality depends on the policies governments choose—such as whether to let capital move unhindered across national boundaries, how much austerity to impose, and how much to deregulate markets. While these policies do often confer growth benefits, they have also been responsible for much of the increase in inequality. The book also shows that inequality leads to weaker economic performance and proposes alternative policies capable of delivering more inclusive growth. In addition to improving access to health care and quality education, they call for redistribution from the rich to the poor and present evidence showing that redistribution does not hurt growth. Accessible to scholars across disciplines as well as to students and policy makers, Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.

Produktinformation

Utgivningsdatum2019-01-08
Mått152 x 229 x undefined mm
FormatInbunden
SpråkEngelska
Antal sidor192
FörlagColumbia University Press
MedarbetareStiglitz,JosephE.
ISBN9780231174688

Tillhör följande kategorier

Nationalekonomi inom Ekonomi och Ledarskap
Mikroekonomi inom Ekonomi och Ledarskap

Jonathan D. Ostry is deputy director of the research department at the International Monetary Fund, where his work on financial globalization and inequality has been influential in bringing about a shift in the IMF’s stance on these issues. His many books include Taming the Tide of Capital Flows (2017). His work on inequality and unsustainable growth has been cited by, among others, Barack Obama.Prakash Loungani is assistant director in the IMF’s Independent Evaluation Office. Known for his work on the difficulty of forecasting recessions, he blogs as The Unassuming Economist.Andrew Berg is deputy director of the IMF’s Institute for Capacity Development. He previously served at the U.S. Treasury, including as deputy assistant secretary for East Asia and Latin America in 2000–2001 and chief economist of the Mexican Task Force in 1995–1996.

Foreword, by Joseph E. StiglitzPreface1. Introduction2. Inequality: Measures and Drivers3. Inequality and Sustained Growth4. Structural Policies and Inequality5. Financial Globalization and Inequality6. Austerity and Inequality7. Central Banks and Inequality8. Technology, Robots, and Inequality9. Remedies for Inequality—Redistribution10. ConclusionsData AppendixTechnical AppendixGlossaryReferencesIndex

This book shows that, far from being either necessary or good for growth, inequality leads to weaker economic performance. Moreover, increases in inequality have been a choice, not an unexpected outcome. The extent of inequality depends very much on the policies governments chose. These conclusions come from careful research conducted over several years. This book’s message is simple: societies are free to choose policies that will deliver more inclusive growth.

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