Confronting Inequality: How Societies Can Choose Inclusive Growth

Inequality has increased significantly in many countries over the past three decades, as a result of political choices made by governments. This book argues that inequality can be reduced through policies such as capital movement restrictions, austerity measures, and market deregulation, and that redistribution from the rich to the poor can lead to more inclusive growth. It is accessible to scholars and students and is crucial for addressing concerns about a new Gilded Age.

Format: Paperback / softback
Length: 192 pages
Publication date: 08 January 2019
Publisher: Columbia University Press

Over the past three decades, inequality has surged significantly in numerous countries worldwide. The growing chasm between the extremely wealthy and the rest of society is frequently portrayed as an unforeseen consequence or as a necessary trade-off for economic growth. In this book, three International Monetary Fund economists shed light on the fact that this rise in inequality has been a deliberate political decision and offer alternative policies to create a more inclusive economy.

Jonathan D. Ostry, Prakash Loungani, and Andrew Berg argue that the level of inequality is influenced by the policies governments adopt, such as the freedom of capital movement across national borders, the severity of austerity measures, and the extent of market deregulation. While these policies have often brought about growth benefits, they have also contributed significantly to the increase in inequality.

Furthermore, the book demonstrates that inequality undermines economic performance and proposes alternative policies that can foster more inclusive growth. In addition to enhancing access to healthcare and quality education, these policies advocate for redistributing wealth from the rich to the poor, with evidence supporting the notion that redistribution does not hinder growth.

Confronting Inequality is a comprehensive and empirically robust book that appeals to scholars from various disciplines, as well as students and policymakers. It is particularly relevant in a time when many are concerned about the emergence of a new Gilded Age. By examining the root causes of inequality and proposing solutions, this book offers valuable insights into addressing this pressing societal issue.

Weight: 296g
Dimension: 153 x 228 x 20 (mm)
ISBN-13: 9780231174695