Economic Growth and Inequality Term Paper by Nicky
Economic Growth and Inequality
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Description:
This paper explains the relationship between economic growth and economic inequality and includes information from several studies that have been written on this subject. The paper identifies all the factors that contribute to this inequality and explains that it can have both negative and positive influences on different markets depending on their status. In conclusion the author states that the relationship between inequality and economic growth does not manifest in the same manner in each country.
Outline:
Introduction
Economic Growth and Economic Inequality
Conclusions
Outline:
Introduction
Economic Growth and Economic Inequality
Conclusions
From the Paper:
''However, it is obvious that economic inequality can have negative or positive, direct or indirect effects on economic growth, and it also affects both developing and developed countries.Also, there is a very clear distinction between old theories in the field and new, modern ones. Initial theories state that inequality generates economic growth. The theory is embraced by the republicans. They consider that inequality would help stabilize the economy in the financial and economic crisis and it would also help sustain the economy in the future. However, such theories are only partially supported or not supported at all by empirical findings.
''Modern theories agree upon the fact that a more equal economic situation would be more favorable for macro economies. The theory is supported by the democrats. Their opinion is based on the idea that it is better to help everyone in these circumstances generated by the financial crisis in order to diminish the income inequality between individuals.''
Sample of Sources Used:
- Von Mises, Ludwig (1996). Human Action: A Treatise of Economics. Chapter XXXV The Welfare Principle versus the Market Principle. Ludwig von Mises Institute. Retrieved April 3, 2009 from http://www.mises.org/humanaction/chap35sec3.asp.
- Gini coefficient (2009). Organization for Economic Cooperation and Development. Retrieved April 3, 2009 from http://stats.oecd.org/WBOS/Index.aspx?QueryId=11353.
- Barro, R. J. (1999). Inequality and Growth in a Panel of Countries. Harvard University. Retrieved April 3, 2009 from http://www.economics.harvard.edu/faculty/barro/files/p_inequalitygrw.pdf.
- Economic Growth and Income Inequality: Reexamining the Links (1996). The World Bank. Retrieved April 3, 2009 from http://www.worldbank.org/fandd/english/0397/articles/0140397.htm.
- Su, Q. (2001). Economic inequality and economic growth. Humboldt University, Berlin. Retrieved April 4, 2009 from http://www2.wiwi.hu-berlin.de/institute/im/publikdl/2001-inequality.pdf.
Cite this Term Paper:
APA Format
Economic Growth and Inequality (2011, June 17)
Retrieved March 25, 2023, from https://www.academon.com/term-paper/economic-growth-and-inequality-147714/
MLA Format
"Economic Growth and Inequality" 17 June 2011.
Web. 25 March. 2023. <https://www.academon.com/term-paper/economic-growth-and-inequality-147714/>