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Author: Christian Miguel Broda
Publisher: A E I Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 72
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Book Description
According to conventional wisdom, the economic well-being of all but the wealthiest Americans has stagnated or declined over the past twenty-five years. In Prices, Poverty, and Inequality: Why Americans Are Better Off Than You Think, Christian Broda and David E. Weinstein argue that this idea is based upon misleading measurements of wealth and poverty. The consumer price index used to compute official measures of real wages and poverty ignores two key sources of increased prosperity: the introduction of new and better products and consumers' ability to substitute between goods. Deflating nominal wages by a cost-of-living index that adjusts for these previously unconsidered factors of prosperity suggests that the real wages of the poor have actually risen by 30 percent since the late 1970s--and that the poverty rate in America has fallen dramatically over the last 40 years. How can we account for the discrepancy between standard measures of economic well-being--which suggest a trend of increased poverty--and alternative measures that indicate an upswing in prosperity? As Broda and Weinstein argue, product innovation has long been a key source of prosperity for American households. New and better household appliances, cellular phones, vehicle air bags, medicines, and computers are among the many product improvements that have benefited Americans, including the poor, over the last few decades. Yet current official price statistics capture only a portion of the benefits that these improved goods provide to American households. Broda and Weinstein conclude that adjusting poverty measures to fully account for the benefits of product improvements reveals that Americans in every income group are substantially better off economically than they were a quarter century ago.
Author: Francis Fukuyama
Publisher: JHU Press
ISBN: 1421405709
Category : Political Science
Languages : en
Pages : 212
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Book Description
The rise of populism in new democracies, especially in Latin America, has brought renewed urgency to the question of how liberal democracy deals with issues of poverty and inequality. Citizens who feel that democracy failed to improve their economic condition are often vulnerable to the appeal of political leaders with authoritarian tendencies. To counteract this trend, liberal democracies must establish policies that will reduce socioeconomic disparities without violating liberal principles, interfering with economic growth, or ignoring the consensus of the people. Poverty, Inequality, and Democracy addresses the complicated philosophical and moral issues surrounding the distribution of economic goods in free societies as well as the empirical relationships between democratization and trends in poverty and inequality. This volume also discusses the variety of welfare-state policies that have been adopted in different regions of the world. The book’s distinguished group of contributors provides a succinct synthesis of the scholarship on this topic. They address such broad issues as whether democracy promotes inequality, the socioeconomic factors that drive democratic failure, and the basic choices that societies must make as they decide how to deal with inequality. Chapters focus on particular regions or countries, examining how problems of poverty and inequality have been handled (or mishandled) by newer democracies in Latin America, Eastern Europe, Africa, and Asia. Poverty, Inequality, and Democracy will prove vital reading for all students of world politics, political economy, and democracy’s global prospects. Contributors: Dan Banik, Nancy Bermeo, Dorothee Bohle, Nathan Converse, Alberto Díaz-Cayeros, Francis Fukuyama, Béla Greskovits, Stephan Haggard, Ethan B. Kapstein, Robert R. Kaufman, Taekyoon Kim, Huck-Ju Kwon, Jooha Lee, Peter Lewis, Beatriz Magaloni, Mitchell A. Orenstein, Marc F. Plattner, Charles Simkins, Alejandro Toledo, Ilcheong Yi
Author: Robert S. Rycroft
Publisher: Bloomsbury Publishing USA
ISBN:
Category : Political Science
Languages : en
Pages : 496
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Book Description
Leading scholars examine the conflicting paradigms of affluence and destitution in the United States—as well as other free societies—and discuss the influence of education, race, and status on economic mobility. While recent catastrophic events in New Orleans and Haiti may have magnified issues of social inequity, leaders have debated over poverty and discrimination for decades. Are the poor disadvantaged by the institutions of society or by the choices they make? Through two insightful volumes, the author examines differing academic and political perspectives to help shed light on the causes of poverty and inequality; the role that gender, race, age, or sexual preference plays in determining opportunity; and the effectiveness of current social and economic policies in balancing the inequity among disparate groups. The Economics of Inequality, Poverty, and Discrimination in the 21st Century consists of 2 volumes containing 32 papers divided into 5 categories: measurement, inequality and mobility, institutions and choices, demographic groups and discrimination, and policy. The papers—written by economists, sociologists, philosophers and lawyers—deal with the extent of inequality in the United States and how it compares to other countries, and the newly emerging evidence on the relationship between inequality and mobility within a society.
Author: Christian Miguel Broda
Publisher: A E I Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 72
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Book Description
According to conventional wisdom, the economic well-being of all but the wealthiest Americans has stagnated or declined over the past twenty-five years. In Prices, Poverty, and Inequality: Why Americans Are Better Off Than You Think, Christian Broda and David E. Weinstein argue that this idea is based upon misleading measurements of wealth and poverty. The consumer price index used to compute official measures of real wages and poverty ignores two key sources of increased prosperity: the introduction of new and better products and consumers' ability to substitute between goods. Deflating nominal wages by a cost-of-living index that adjusts for these previously unconsidered factors of prosperity suggests that the real wages of the poor have actually risen by 30 percent since the late 1970s--and that the poverty rate in America has fallen dramatically over the last 40 years. How can we account for the discrepancy between standard measures of economic well-being--which suggest a trend of increased poverty--and alternative measures that indicate an upswing in prosperity? As Broda and Weinstein argue, product innovation has long been a key source of prosperity for American households. New and better household appliances, cellular phones, vehicle air bags, medicines, and computers are among the many product improvements that have benefited Americans, including the poor, over the last few decades. Yet current official price statistics capture only a portion of the benefits that these improved goods provide to American households. Broda and Weinstein conclude that adjusting poverty measures to fully account for the benefits of product improvements reveals that Americans in every income group are substantially better off economically than they were a quarter century ago.
Author: Kym Anderson
Publisher: World Bank Publications
ISBN: 0821381857
Category : Political Science
Languages : en
Pages : 544
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Book Description
The prices of farm products are crucial determinants of the extent of poverty and inequality in the world. The vast majority of the world s poorest households depend to a considerable extent on farming for their incomes, while food represents a large component of the consumption of all poor households. For generations, food prices have been heavily distorted by government policies in high-income and developing countries. Many countries began to reform their agricultural price and trade policies in the 1980s, but government policy intervention is still considerable and still favors farmers in high-income countries at the expense of many farmers in developing countries. What would be the poverty and inequality consequences of the removal of the remaining distortions to agricultural incentives? This question is of great relevance to governments in evaluating ways to engage in multilateral and regional trade negotiations or to improve their own policies unilaterally. 'Agricultural Price Distortions, Inequality, and Poverty' analyzes the effects of agricultural and trade policies around the world on national and regional economic welfare, on income inequality among and within countries, and on the level and incidence of poverty in developing countries. The studies include economy-wide analyses of the inequality and poverty effects of own-country policies compared with rest-of-the-world policies for 10 individual developing countries in three continents. This book also includes three chapters that each use a separate global economic model to examine the effects of policies on aggregate poverty and the distribution of poverty across many identified developing countries. This study is motivated by two policy issues: first, the World Trade Organization s struggle to conclude the Doha Round of multilateral trade negotiations, in which agricultural policy reform is, again, one of the most contentious topics in the talks and, second, the struggle of the developing countries to achieve their Millennium Development Goals by 2015 notably the alleviation of hunger and poverty which depends crucially on policies that affect agricultural incentives.
Author: Surjit Bhalla
Publisher: Columbia University Press
ISBN: 0881324523
Category : Political Science
Languages : en
Pages : 277
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Book Description
A new era of globalization, which began in the 1980s, brought about a significant decline in costs of transportation, communication, and production; considerably improved intercountry competitiveness; and broke down trade and cultural barriers among countries. The concept of a sovereign nation has been increasingly questioned in recent years. Some, indeed, have imagined a world without boundaries, without countries. Others who doubt the benefits of globalization have called for increased protectionism and greater regulation of economic activity. Has globalization made the world grow faster? Has poverty declined at a faster pace during globalization? If yes, why? If not, is it because the growth rate was lower, or because inequality worsened, or both? Who gained from globalization? Was it the elite in both the developed and developing world? What about the middle class? Who are they? How did they benefit from (or lose to) the forces of globalization? This comprehensive study firmly debunks several popular myths such as the belief that globalization has resulted in lower overall growth rates for poor countries, increasing world inequality, and stagnating poverty levels. Through rigorous, integrated methodologies and an enhanced dataset, the author, Surjit Bhalla, answers some of the most pressing policy issues confronting us today.
Author: Duncan Lindsey
Publisher: Oxford University Press
ISBN: 0195305442
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
Duncan Lindsey shows in this volume that it is possible to provide true opportunity to all children, insuring them against a lifetime of inequality. When we do, the walls dividing the United States by race, ethnicity, and wealth will begin to crumble.
Author: Ms.Era Dabla-Norris
Publisher: International Monetary Fund
ISBN: 1513547437
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Author: Mr. Ravi Balakrishnan
Publisher: International Monetary Fund
ISBN: 1484326091
Category : Business & Economics
Languages : en
Pages : 123
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Book Description
Over the past decades, inequality has risen not just in advanced economies but also in many emerging market and developing economies, becoming one of the key global policy challenges. And throughout the 20th century, Latin America was associated with some of the world’s highest levels of inequality. Yet something interesting happened in the first decade and a half of the 21st century. Latin America was the only region in the World to have experienced significant declines in inequality in that period. Poverty also fell in Latin America, although this was replicated in other regions, and Latin America started from a relatively low base. Starting around 2014, however, and even before the COVID-19 pandemic hit, poverty and inequality gains had already slowed in Latin America and, in some cases, gone into reverse. And the COVID-19 shock, which is still playing out, is likely to dramatically worsen short-term poverty and inequality dynamics. Against this background, this departmental paper investigates the link between commodity prices, and poverty and inequality developments in Latin America.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464816034
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
This edition of the biennial Poverty and Shared Prosperity report brings sobering news. The COVID-19 (coronavirus) pandemic and its associated economic crisis, compounded by the effects of armed conflict and climate change, are reversing hard-won gains in poverty reduction and shared prosperity. The fight to end poverty has suffered its worst setback in decades after more than 20 years of progress. The goal of ending extreme poverty by 2030, already at risk before the pandemic, is now beyond reach in the absence of swift, significant, and sustained action, and the objective of advancing shared prosperity—raising the incomes of the poorest 40 percent in each country—will be much more difficult. Poverty and Shared Prosperity 2020: Reversals of Fortune presents new estimates of COVID-19's impacts on global poverty and shared prosperity. Harnessing fresh data from frontline surveys and economic simulations, it shows that pandemic-related job losses and deprivation worldwide are hitting already poor and vulnerable people hard, while also shifting the profile of global poverty to include millions of 'new poor.' Original analysis included in the report shows that the new poor are more urban, better educated, and less likely to work in agriculture than those living in extreme poverty before COVID-19. It also gives new estimates of the impact of conflict and climate change, and how they overlap. These results are important for targeting policies to safeguard lives and livelihoods. It shows how some countries are acting to reverse the crisis, protect those most vulnerable, and promote a resilient recovery. These findings call for urgent action. If the global response fails the world's poorest and most vulnerable people now, the losses they have experienced to date will be minimal compared with what lies ahead. Success over the long term will require much more than stopping COVID-19. As efforts to curb the disease and its economic fallout intensify, the interrupted development agenda in low- and middle-income countries must be put back on track. Recovering from today's reversals of fortune requires tackling the economic crisis unleashed by COVID-19 with a commitment proportional to the crisis itself. In doing so, countries can also plant the seeds for dealing with the long-term development challenges of promoting inclusive growth, capital accumulation, and risk prevention—particularly the risks of conflict and climate change.
Author: Ann Harrison
Publisher: University of Chicago Press
ISBN: 0226318001
Category : Business & Economics
Languages : en
Pages : 674
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Book Description
Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
