Inequality 101 - Lectures
Lecture 1 -
Inequality - Why Should I Care?
Inequality is an issue we all face every day, from income disparities to
gender discrimination. In this first lecture in the Institute for New
Economic Thinking’s “Inequality 101” series, Arjun Jayadev explains
the vital importance of understanding inequality in today’s world. |
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Resources for Lecture 1 - Why Should
I Care? (INET
video)
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Chap. 1.1 - Outline
(INET video:
0:00)
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- Arjun Jayadev information
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Ch. 1.2 - Functional Distribution of Income (INET
video: 7:34)
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↑ Lecture 1 |
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- Bowley's Law (Labor share)
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- Nicholas Kaldor (HET)
- Simon Kuznets (HET)
- Robert Solow (HET)
- "Economic Growth and Income Inequality" by Simon
Kuznets, 1955, AER. [pdf,
pdf]
- "Technical Change and the Aggregate Production Function" by
Robert M. Solow, 1957, REStat, [jstor,
pdf]
- "Capital Accumulation and Economic Growth" by
Nicholas Kaldor, 1961, in F.A. Lutz & D.C. Hague, editors, Theory
of Capital [pdf]
- "Kuznets
Curve" at Thought Co.
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- Declining labor share in G20 countries
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- Brent Niemann (homepage)
- Loukas Karabarbounis (page
at Minnesota)
- "The Global Decline of the Labor Share" by Brent Niemann and
Loukas Karabounis, 2013 [NBER
wp, pub.2013, QJE,
pdf]
- "Labor
Income Shares" at OECD ilibrary
- "The Labour Share in G20 Countries", by ILO/OECD,
2015 [pdf]
- "The
Declining Labor Share of Income" by Franciso Rodriguez and
Arjun Jayadev, 2010, UNDP HDR
- "The Declining Labor Share of Income" by Franciso Rodriguez
and Arjun Jayadev, 2013, J of Globalization and Development
[DeGr]
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- Thomas Piketty (Paris
School homepage,
INET profile)
- Capital in the Twenty-First Century by Thomas Piketty,
2013
[Amazon]
- "A
Discussion of Thomas Piketty’s Capital in the Twenty-First
Century: By How Much Is r Greater than g?" Maxim L.
Pinkovskiy, 2015, Liberty Street Economics, FRBNY
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SOI Tax Statistics at IRS
- "The Rate of Return on Everything, 1870-2015" by Òscar Jordà,
Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick and Alan M.
Taylor, 2019, [NBER
wp, pub. 2019, QJE]
- Moritz Schularick (INET
profile,
NBER
profile)
- Alan Taylor (INET
profile, UC Davis
page)
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- Further reading on declining labor share
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- "Getting Income Shares Right" by Douglas Gollin, 2002,
JPE [jstor]
- "Has Globalization Eroded Labor’s Share? Some Cross-Country
Evidence" by Ann Harrison, 2005 [MPRA
pdf]
- "Capital account openness and the labour share of income" by
Arjun Jayadev, 2007, Cambridge JE (Jan) [oup]
- "Effects of Globalization on Labor's Share in National
Income" by Anastasia Guscina, 2007 [IMF
wp,
SSRN]
- "The Relative Bargaining Power of Employers and Unions in
the Global Information Age: A Comparative Analysis of the United
States and Japan" by Kenneth Dau-Schmidt, and Benjamin C. Ellis,
2011, [Indiana
Univ Repository,
ResGate,
SSRN, ]
- Wage Led Growth: An equitable strategy for economic
recovery, edited by Marc Lavoie and Engelbert Stockhammer,
2013 [ILO
pdf]
- Why have Wage Shares Fallen? A panel analysis of the
determinants of functional income distribution by Englebert
Stockhammer, 2013 [ILO
pdf]
- "Deciphering the Fall and Rise in the Net Capital Share:
Accumulation or scarcity?" by Matthew Rognlie, 2015, Brookings [Brookings
pdf]
- "The Micro-Level Anatomy of the Labor Share Decline",
Matthias Kehrig and Nicolas Vincent, 2018 [NBER,
Semantic]
- "Why
Is Labor Receiving a Smaller Share of Global Income? Theory and
Empirical Evidence" by Mai Chi Dao, Mitali Das, Zsoka Koczan,
Weicheng Lian, 2017 IMF Working Paper
- "A
new look at the declining labor share of income in the United
States" by James Manyika et al, 2018, McKinsey Global
Institute
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Ch.1.3 - Inequality Among the
99% (INET video: 17:34)
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↑ Lecture 1 |
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- "Income inequality and the labour market in Britain and the
US" by Richard
Blundell,
Robert Joyce,
Agnes
Norris Keiller and
James P.
Ziliak, 2018, JPubE (Jun), p.48 [SciDir]
- "Skills, education, and the rise of earnings inequality
among the 'other 99 percent'" by
David Autor, 2014, Science (May 23) [science]
-
Janet Gornick
- Sir Angus
Deaton,
- "The
Rise and Consequences of Inequality in the United States" by
Alan B. Krueger, Jan 12, 2012
- "Globalization
and Inequality: Paul Krugman, Janet Gornick, and Branko
Milanovic" at Graduate Center, NYC [video]
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- Inequality and unionization
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- "Deregulation
and the Labor Market" by James Peoples, 1998, J Econ
Perspectives, p.111
- "Deregulation
and Labour Law in the United States", by Samuel M. Kaynard,
1988, Hosftra Lab & Emp Law J.
- "The
Impact of Worker Bargaining Power on the Organization of Global
Firms" by Juan Carluccio and Maria Bas, 2013
- "Outsourcing and union power" by Charles R. Perry, 1997,
J of Labor Research (Dec), p.521 [Springer]
- "Outsourced
university workers seek collective bargaining rights" by
Jane Croft, Financial Times, (Feb 26, 2019)
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- Inequality and technology
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Ch.1.4 - Inequality Among
Nations (INET video:
22:32)
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↑ Lecture 1 |
- Inequality in Antiquity & Middle Ages
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- Escape from Rome by
Walter Scheidel, 2019 [Princeton
UP]
- "Poverty in Pauline Studies: Beyond the So-called New
Consensus", by
Steven J. Friesen 2004, J for the Study of New Testament
[Genius,
Sage]
- "The Size of the Economy and the Distribution of Income in
the Roman Empire" by Walter Scheidel and Steven J. Friesen,
2009, J of Roman Studies [jstor]
- "An
Estimate of Average Income and Inequality in Byzantium Around
Year 1000" by Branko Milanovic, 2006, Rev of Income and
Wealth, p.449 [CUNY,
SSRN]
- "The
top rich in Europe in the long run of history (1300 to present
day)" by Guido Alfani, 2017, Vox
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-
The Capitalist Revolution at CORE-Economics
- Angus
Maddison
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Maddison Historical Statistics at Univ of Groningen,
Netherlands
- "Business
History, the Great Divergence and the Great Convergence", by
Geoffrey Jones, 2017, HBS.
- The Protestant Ethic and the Spirit of Capitalism by
Max Weber (HET), 1904-05
[av]
[pdf] [txt]
- The Civilizing Process by Norbert Elias, 1939 [trans.
1978-82] [Amazon]
- The Rise of the West: A History of the Human Community
by William H. McNeill, 1964 [Chicago
UP]
- The European Miracle by Eric Jones, 1981 [Amazon]
- The Rise and Fall of the Great Powers by Paul
Kennedy, 1987 [Amazon]
- The Lever of Riches: Technological creativity and
economic progress by Joel Mokyr, 1992 [Oxford
UP]
- The Clash of Civilizations by Simon P. Huntington,
1996 [Amazon]
- Guns, Germs and Steel, Jared Diamond, 1997 [Amazon]
- The Wealth and Poverty of Nations by David Landes,
1998 [Amazon]
- The Great Divergence: China, Europe, and the making of
the modern world economy by Kenneth Pomeranz, 2000 [Princeton
UP]
- The Eastern Origins of Western Civilisation by John
M. Hobson, 2004 [Amazon]
- The Bourgeois Virtues: Ethics for an age of commerce,
by Deirdre McCloskey, 2006 [Chicago
UP]
- A Farewell to Alms: A brief economic history of the world
by Gregory Clark, 2007 [Princeton
UP].
- The British Industrial Revolution in Global Perspective, by
Robert C. Allen, 2009 [Cambridge
UP]
- Why the West Rules - For Now by Ian Morris, 2010 [Amazon]
- Before and Beyond Divergence: the politics of economic
change in China and Europe, by Jean-Laurent Rosenthal & R.
Bin Wong, 2011 [Harvard
UP]
- Civilization: The West and the Rest by Niall
Ferguson, 2012 [Amazon]
- Why Nations Fail by Daron Acemoglu and James A.
Robinson, 2013 [Amazon]
- Great Divergence and Great Convergence by Leonid
Grinin and Andrey Korotayev, 2016 [Springer]
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- Fifty Years of Change on the U.S.-Mexico Border: Growth,
Development, and Quality of Life by Joan B. Anderson and
James Gerber, 2007 [Amazon]
- UNDP Human Development Report, 2009, [maps on p.10 &
p.11] [UNDP
pdf]
- "Photo of Drowned Migrants Captures Pathos of Those Who Risk
It All", by Azam Ahmed and Kirk Semple, NY Times (June
25, 2019) [sensitive
material]
- Let their People Come by
Lant
Pritchatt, 2006 [pdf]
- Glen Weyl
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Ch.1.5 - Inequality Due to
Parentage (INET video:
27:57)
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↑ Lecture 1 |
- Geography of distribution
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- Inter-generational mobility
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- "Fortunate Sons: New Estimates of Intergenerational Mobility
in the United States Using Social Security Earnings Data", by
Bhaskhar Mazumder, 2005, REStat, p.235 [jstor]
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Ch.1.6 - Categorical
Inequalities (INET video:
33:07)
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↑ Lecture 1 |
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- "India's
Caste System" by Archana Chaudhary, Bloomberg (Oct 25, 2019)
- "What
is India's Caste System?", BBC News (June 19, 2019)
- "Caste System and Its Relation to Social and Economic Life",
by M.D, Altekar, 1929, AAPSS, p.183 [jstor]
- "Graded Caste Inequality and Poverty: Evidence on Role of
Economic Discrimination" by Sukhadeo Thorat and S. Madheswaran,
2018, J of Social Inclusion Studies [Sage]
- "Book
review: Dipankar Gupta's 'Interrogating Caste'" by Gopa
Sabharwal, India Today (July 24, 2000)
- "Exclusive Inequalities: Merit, Caste and Discrimination in
Indian Higher Education Today" by Satish Deshpande, 2006,
Economic and Political Weekly (June 17-26), p.2438 [jstor]
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Ideas for India by Ashwini Deshpande
- "Caste and the Indian Economy", by Kaivan Munshi, 2019, J
of Econ Literature, (Dec), p.781 [AEA
pdf]
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- "Our
Unpaid, Extra Shadow Work" by Craig Lambert, NY Times
(Oct 29, 2011)
- "How
Society Pays When Women’s Work Is Unpaid" by Claire Cain
Miller, NY Times (Feb 22, 2016)
- "Counting
on Care Work: Human Infrastructure in Massachusetts" by
Randy Albelda, Mignon Duffy and Nancy Folbre, 2009, UMass-Boston
[pdf].
- "For
Love or Money -- Or Both?", by Nancy Folbre and Julie
Nelson, 2000, J of Econ Perspectives (Aut), p.123 [UMB,
jstor]
- Nancy Folbre (Homepage,
American Univ,
INET Profile)
- Julie Nelson (Homepage,
UMass-Boston,
INET Profile)
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Ch.1.7 - Summary (INET video:
35:50)
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↑ Lecture 1 |
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↑ Lecture 1 |
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List
Lecture 2 -
How Do We Measure
Inequality?
Inequality may be everywhere, but that doesn’t mean economists agree on
how to measure it. In this second lecture in the Institute for New Economic
Thinking’s “Inequality 101” series, Arjun Jayadev explains the
relative merits of different ways of measuring inequality. |
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Resources for Lecture 2 - How Do We Measure
Inequality? (INET
video)
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Chap. 2.1 - What we
mean when we speak about Inequality (INET video: start)
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- Martin Reid & Seymour M. Miller
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- "Standards of Income Redistribution" by Martin Rein and S.M.
Miller, 1974, Challenge, v.17 (3), p.20-26. [jstor]
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Reid obituary at MIT
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Miller profile at FairEconomy
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- (1) One-Hundred-Percentism
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- (2) Social Minimum or the floor of protection
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- (3) Equalization of lifetime income profiles
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- "The Relative Bargaining Power of Employers and Unions in
the Global Information Age: A Comparative Analysis of the United
States and Japan" by Kenneth Dau-Schmidt, and Benjamin C. Ellis,
2011, [Indiana
Univ Repository,
ResGate,
SSRN, ]
- "The Labour Share in G20 Countries", by ILO/OECD,
2015 [pdf]
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- (8) Avoidance of income and wealth crystallization
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- (9) International yardsticks
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- Reducing income inequality
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- "Six
policies to reduce economic inequality" by john a. powell
- "Ch. 5 - Reducing income inequality while boosting Economic
growth: Can it be done?" by OECD, Economic Policy Reforms:
going for growth, 2012 [oecd,
pdf]
- "How
can tax reduce income inequality" by Alan Carter and Stephen
Matthews, OECD
- "Reducing
income inequality in Europe" by Anthony B. Atkinson, 2013,
J of European Labor Studies (Dec) [pdf],
- "Letter
to Elizabeth Warren on Wealth Tax" by Gabriel Zucman and
Emmanuel Saez (Jan 18, 2019)
- "Letter
on Sanders' Wealth Tax" by Gabriel Zucman and Emmanuel Saez
(Sep 22, 2019)
- "Bernie
Sanders Proposes a Wealth Tax: ‘I Don’t Think That Billionaires
Should Exist’" at NY Times (Sep 24, 2019)
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- Measuring Inequality by Frank A. Cowell, 2009 [lse
pdf]
- "Does Corruption Affect Income Inequality and Poverty?" by
Sanjeev Gupta, Hamid Davoodi and Rosa Alonso-Terme, 1998,
IMF
working paper
- "Poverty, Inequality, and Conflict" by S.M. Miller, M. Rein,
P. Roby, & G.M. Gross, 1967, AAPSS, 373(1), 16–52.
[sage,
jstor]
- The Triumph of Injustice: How the rich dodge taxes and
how to make them pay, by Emmanuel Saez and Gabriel Zucman,
2019 [b&n
,
amazon]
- Inequality: What Can Be Done? by Anthony B. Atkinson,
2015 [jstor]
- CORE-Economics blog: "Escaping
Imaginary Worlds" by Tim Phillips, 2017.
- "Measuring Inequality in Income and Wealth", World Bank
Human Development Report [pdf]
- "America's
Economic Pie: Talking to Americans about wealth inequality"
at CBS This Morning (Jan 31, 2020).
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Ch.2.2 - Some Pictures of Inequality (INET
video:
3:00)
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↑ Lecture 2 |
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Ch.2.3 - Partial Measures (INET
video:
6.40)
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↑ Lecture 2 |
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Ch.2.4 - Axiomatic Approach (INET
video:
10:46) |
↑ Lecture 2 |
- (a) Pigou-Dalton Transfer Principle
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- (c) Translation Invariance
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Ch.2.5 - Common Global
Measures (INET video:
20:14)
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↑ Lecture 2 |
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- Atkinson family of measures
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- Generalized Entropy family of measures
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- "Technical Note: Inequality measures and their
decompositions ", World Bank, [pdf]
- "Income
inequality measures", by Fernando G. De Maio, 2007, J of
Epid Community health (Oct), p.849
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- Henri Theil (HET)
- "Theil
Index" at US Census
- "The Young Person’s Guide to the Theil Index" by Pedro
Conceição and Pedro Ferreira, 2000, UTIP [pdf]
- "Describing Income Inequality: Theil Index and Entropy Class
Indexes" by L.G. Bellu and Paolo Liberati, FAO, EasyPol Mod 51 [pdf],
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Ch.2.6 - Lorenz Curves (INET
video:
23:16) |
↑ Lecture 2 |
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↑ Lecture 2 |
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List
Lecture 3 -
What is Happening?
How did global inequality come about? In this third lecture in the
Institute for New Economic Thinking’s “Inequality 101” series, Branko
Milanovic explores how the industrial revolution created widening
inequality between different countries. |
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Resources for Lecture 3 - What is
Happening? (INET
video)
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Chap. 3.1 - Historical Global Inequality
(INET video:
0:00)
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- Branko Milanovic information
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- Anthropology of Inequality
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Ch.3.2 - Globalization & Migration (INET
video:
13:10)
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↑ Lecture 3 |
- Inequality and Migration data sources
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Ch.3.3 - Convergence Between Countries: current
and historical (INET video:
19:45)
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↑ Lecture 3 |
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- International Comparison (PPPs)
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↑ Lecture 3 |
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List
Lecture 4 -
What is Happening Now?
What is happening to global inequality now? In this fourth lecture in the
Institute for New Economic Thinking’s “Inequality 101” series, Branko
Milanovic continues his exploration of global inequality into the
contemporary neoliberal era. |
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Resources for Lecture 4 - What is
Happening Now? (INET
video)
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Chap. 4.1 - Is the World Getting Better?
(INET video:
0:00)
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- Milanovic on inequality and capitalism
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- The Haves and the Have-Nots: A Brief and Idiosyncratic
History of Global Inequality, by Branko Milanovic, 2012 [Basic,
Amazon,
B&N]
- Global Inequality: A New Approach for the Age of
Globalization by Branko Milanovic, 2016 [Harvard
UP,
Amazon,
B&N]
- Capitalism Alone: The future of the system that rules the
world, by Branko Milanovic, 2019 [Harvard
UP,
Amazon,
B&N]
- "A
scholar of inequality ponders the future of capitalism", The
Economist (Nov 2, 2019)
- "Review
of Capitalism Alone", by Robert Iacono, 2019, LSE Rev of Books.
- "Review
of Capitalism Alone" by Duncan Green, 2019, From Poverty to Power,
Oxfam.
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Ch. 4.2 - The Great Reshuffling, Part 1 (INET
video: 6:00)
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↑ Lecture 4 |
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Ch.4.3 - Convergence Between Countries: current
and historical (INET video: 18:01)
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↑ Lecture 4 |
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- "Global
Income Distribution: From the Fall of the Berlin Wall to the
Great Recession" by Christoph Lakner and Branko Milanovic,
2015, World Bank Economic Review, Aug 12, 2015 [CUNY pdf;
WBER]
- "Description of the Lakner-Milanovic (2013) World Panel
Income Distribution (LM-WPID) database", [World
Bank pdf]
- "The Elephant Curve of Global Inequality and Growth",
Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez
and Gabriel Zucman, Dec 2017 [pdf]
- "The
global top 1 percent earned twice as much as the bottom 50
percent in recent years" by Dylan Matthews, Vox (Feb 2, 218)
- "The
Elephant Curve", AEA Highlights, Apr 15, 2019
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↑ Lecture 4 |
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List
Lecture 5 -
The Bigger Picture
How do we fight inequality? In this fifth and final lecture in the
Institute for New Economic Thinking’s “Inequality 101” series, Arjun
Jayadev and Branko Milanovic discuss possible policy solutions to
inequality, including opening borders and raising taxes on capital gains. |
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Resources for Lecture 5 - The Bigger Picture (INET
video)
- Ch. 5.1 - Borders (0:00)
- Ch.5.2 - Universalism (9:38)
- Ch. 5.3 - Taxation (13:52)
- Ch.5.4 - Macroeconomics (18:57),
- Ch. 5.5 - Transmission of Advantages (21:09)
- Ch. 5.6 - Gender Inequality (27:25)
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- Philosophers of Inequality
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- Further reading on Inequality
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- Equality of What?, by Amartya Sen, 1979 [pdf]
- "From Income Inequality to Economic Inequality",
by Amartya Sen, 1997, SEJ [pdf]
- The Price of Inequality: How Today's Divided Society
Endangers Our Future by Joseph E. Stiglitz, 2013 [Amazon]
- The Haves and the Have-Nots: A Brief and Idiosyncratic
History of Global Inequality, by Branko Milanovic, 2012 [Basic,
Amazon,
B&N]
- Global Inequality: A New Approach for the Age of
Globalization by Branko Milanovic, 2016 [Harvard
UP,
Amazon,
B&N]
- Capitalism Alone: The future of the system that rules the
world, by Branko Milanovic, 2019 [Harvard
UP,
Amazon,
B&N]
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↑ Lecture 5 |
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List
Further Resources
The following is a list of research centers and databases on inequality,
as well as policy institutes, advocacy groups and community organizations
which have a focus or interest in inequality. |
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Further Resources
- Research Centers on Inequality
- Databases on Inequality
- Videos on Inequality
- Related institutes
- Advocacy groups
- Public organizing
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- Research Centers on Inequality
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↑ General Resources |
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List
Epilogue
"In short, we have not got a theory of
distribution. We have nothing to say on the subject
which above all occupies the minds of people who
economics is supposed to enlighten."
(Joan Robinson, 1971, "The Second Crisis of Economic Theory",
AER)
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List
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