ECON 133 Global Inequality and Growth
This ECON 133 Global Inequality and Growth course introduces the analysis of economic inequality and the interaction between inequality and economic growth. It includes three main questions: 1) How is inequality changing in different countries and along development paths? 2) What theories can explain the scale and dynamics of economic inequality? 3) How do politics affect inequality, and what types of policies can promote equitable growth?
Research shows that the richest 1% of the population is big winners in an ever-changing global economy. Their share of income increased between 1990 and 2015, while at the other end of the scale, the incomes of the poorest 40% are less than a quarter of the income in all countries surveyed.
The report indicates that one of the consequences of inequality in society is a slowdown in economic growth. In unequal societies, people are more likely to remain trapped in generational poverty due to huge differences in areas such as health and education.
The average income gap between countries is narrowing, and China and other Asian countries are driving global economic growth.
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