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The Economics of Rising Inequalities UK Edition
Contributor(s): Cohen, Daniel (Editor), Piketty, Thomas (Editor), Saint-Paul, Gilles (Editor)
ISBN: 0198727739     ISBN-13: 9780198727736
Publisher: Oxford University Press, USA
OUR PRICE:   $44.64  
Product Type: Paperback - Other Formats
Published: September 2014
Qty:
Additional Information
BISAC Categories:
- Business & Economics | Economics - Macroeconomics
- Social Science
Dewey: 339.2
Physical Information: 0.78" H x 6.14" W x 9.21" (1.16 lbs) 376 pages
 
Descriptions, Reviews, Etc.
Publisher Description:
From New York Times best-selling author Thomas Piketty and noted Professors of Economics Daniel Cohen and Gilles Saint-Paul, comes an in-depth discussion of rising inequalities in the western world. It explores the extent to which rising inequalities are the mechanical consequence of changes
in economic fundamentals (such as changes in technological or demographic parameters), and to what extent they are the contingent consequences of country-specific and time-specific changes in institutions.

Both the 'fundamentalist' view and the 'institutionalist' view have some relevance. For instance, the decline of traditional manufacturing employment since the 1970s has been associated in every developed country with a rise of labor-market inequality (the inequality of labor earnings within the
working-age population has gone up in all countries), which lends support to the fundamentalist view. But, on the other hand, everybody agrees that institutional differences (minimum wage, collective bargaining, tax and transfer policy, etc.) between Continental European countries and Anglo-Saxon
countries explain why disposable income inequality trajectories have been so different in those two groups of countries during the 1980s-90s, which lends support to the institutionalist view.

The chapters in this volume show the strength of both views. Through empirical evidence and new theoretical insights the contributors argue that institutions always play a crucial role in shaping inequalities, and sometimes preventing them, but that inequalities across age, sex, and skills often
recur. From Sweden to Spain and Portugal, from Italy to Japan and the USA, the volume explores the diversity of the interplay between market forces and institutions.