World Scientific Publishing Company Growth with Inequality: An International Comparison on Income Distribution

From the Back Cover In the era of globalization and liberalization, the world is enjoying high growth as well as suffering from the in-effects of unequal distribution of its economic outcomes. The activities of anti-government demonstration in China and Occupy Wall Street reflect that inequality has become an international phenomenon happens both in poor countries with dictatorial authority and rich countries with a democratic regime. Consequently, the inequality issue has become not only a hurdle to the development of one country but also a threat to its social and political stability. The spread of the Jasmine Revolution in some parts of Africa and the Arab Spring is a good example. This book shows the inconsistencies of high growth and increasing inequality with case studies of 11 countries and regions, and OECD members based on original household surveys. It indicates the seriousness of income inequality, explores factors that caused the inequality and analyzes their economic and social consequences. The book raises three key questions: (1) Can high growth shrink inequality gradually? (2) Can government intervention be efficient to equalize income distribution? (3) Is income disparity an engine or an obstacle of high growth? Product Description In the era of globalization and liberalization, the world is enjoying high growth as well as suffering from the in-effects of unequal distribution of its economic outcomes. The activities of anti-government demonstration in China and Occupy Wall Street reflect that inequality has become an international phenomenon happens both in poor countries with dictatorial authority and rich countries with a democratic regime. Consequently, the inequality issue has become not only a hurdle to the development of one country but also a threat to its social and political stability. The spread of the Jasmine Revolution in some parts of Africa and the Arab Spring is a good example. This book shows the inconsistencies of high growth and increasing inequality with case studies of 11 countries and regions, and OECD members based on original household surveys. It indicates the seriousness of income inequality, explores factors that caused the inequality and analyzes their economic and social consequences. The book raises three key questions: Can high growth shrink inequality gradually? Can government intervention be efficient to equalize income distribution? Is income disparity an engine or an obstacle of high growth? Review "Is rapid economic growth compatible with acceptably low income inequality? Is inequality good or bad for growth? Is growth good or bad for inequality? This book presents eleven country studies and several chapters on specific relationships between growth and inequality. It therefore provides a wealth of information that will help to answer these questions of great and growing importance in today's world."-- Professor John Knight, The University of Oxford"China's economic growth and structural change in the reform era and its acceleration in the early twenty first century are reshaping the global economy. Perceptions of whether the fruits of growth have been distributed equitably will determine whether growth retains its priority. This interesting and important book sheds new light on these big questions. Some of the new insights are surprising."-- Professor Ross Garnaut, Vice-Chancellor's Fellow, The University of Melbourne"This book shows that income disparity is a result of economic and social development and that increasing inequality may lead to social and political instability. This, in turn, is likely to affect the economic development process. This is particularly the case in China where increasing income disparity is pushing the country to the tipping point that may affect China's modernization process."-- Professor Li Shi, Beijing Normal University"This book provides a useful assessment of growth and inequality in a rapidly changing world. Severa