Economics and Inequality

Paper Summary:

This essay answers the question of whether or not economic progress can take place without resulting in inequality. The writer discusses that looking at today's world and the number of wealth inequities, one is tempted to think that it is not possible, but the essay concludes that it is technically possible. However, the writer notes that since colonialism, this has grown further and further to sustain.

From the Paper:

"Looking at the distribution of wealth across the world today, as well as the fact that the growth of western, `developed' countries often seems to have occurred at the expense of less developed Asian and African countries, it would is tempting to conclude that inequality is a necessary condition for economic growth. This is based on the premise that growth in one area takes away from someone else - and certainly, this is often the case. The growth of the European economies in the fifteenth to the nineteenth centuries was built upon colonial exploitation."

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