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Inequality and economic and political change: a comparative perspective

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  • James K. Galbraith

Abstract

This paper describes the evolution of inequality in the world economy since 1963 and describes the relationship between inequality, development, political regimes and the functional distribution of income. The movement of inequality within-countries since 1971 exhibits a strong common pattern across countries, suggesting that changes in the between-sector terms of trade and world interest rates exerted a powerful influence; thus, commodity prices and the global effects of monetary policy appear critical to changing inequality worldwide. We also find that political regimes matter: egalitarian regime types exhibit lower measures of inequality, after controlling for economic variables, region and changes over time. Copyright 2010, Oxford University Press.

Suggested Citation

  • James K. Galbraith, 2010. "Inequality and economic and political change: a comparative perspective," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 4(1), pages 13-27.
    • Handle: RePEc:oup:cjrecs:v:4:y:2010:i:1:p:13-27
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    File URL: http://hdl.handle.net/10.1093/cjres/rsq014
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    Cited by:

    1. Dannenberg Peter & Braun Boris & Fuchs Martina & Revilla Diez Javier, 2018. "Dynamics in an unequal world," Zeitschrift für Wirtschaftsgeographie, De Gruyter, vol. 62(2), pages 87-91, May.
    2. Burhan Can Karahasan, 2020. "Winners and losers of rapid growth in Turkey: Analysis of the spatial variability of convergence," Papers in Regional Science, Wiley Blackwell, vol. 99(3), pages 603-644, June.
    3. Alexandre Gori Maia & Arthur Sakamoto, 2018. "Does wage reflect labor productivity? A comparison between Brazil and the United States," Brazilian Journal of Political Economy, Center of Political Economy, vol. 38(4), pages 629-649..
    4. Robert Wade, 2011. "Global Trends in Income Inequality," Challenge, Taylor & Francis Journals, vol. 54(5), pages 54-75.
    5. Chambers, Dustin & Dhongde, Shatakshee, 2016. "Convergence in income distributions: Evidence from a panel of countries," Economic Modelling, Elsevier, vol. 59(C), pages 262-270.

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