TY  - JOUR
AB  - Some economic commentators claim that inequality of wealth or income reduces economic development and growth of GDP. But this is counterintuitive, since economic breakthroughs usually occur by dint of great effort, or discovery, or invention, which brings great wealth to those responsible (think Bill Gates). Nor is this thesis supported by a proper interpretation of the facts of the matter, despite the contentions of several authors in this regard. Torsten Persson and Guido Tabellini (1994) (hence, PT) have an interesting thesis. It is that inequality is harmful for economic growth. That is, ceteris paribus, the more equal is the income or wealth distribution, the better are a country's prospects for economic development.
VL  - 16
IS  - 2
SN  - 0828-8666
DO  - 10.1108/eb018853
UR  - https://doi.org/10.1108/eb018853
AU  - Block Walter
PY  - 2000
Y1  - 2000/01/01
TI  - Is Inequality Harmful for Growth?
T2  - Humanomics
PB  - MCB UP Ltd
SP  - 52
EP  - 58
Y2  - 2024/04/24
ER  -