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The Economics of Inclusion: Building an Argument for a Shared Society

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  • Michael A. Valenti
  • Olivier G. Giovannoni

Abstract

This paper presents a review of the literature on the economics of shared societies. As defined by the Club de Madrid, shared societies are societies in which people hold an equal capacity to participate in and benefit from economic, political, and social opportunities regardless of race, ethnicity, religion, language, gender, or other attributes, and where, as a consequence, relationships between the groups are peaceful. Our review centers on four themes around which economic research addresses concepts outlined by the Club de Madrid: the effects of trust and social cohesion on growth and output, the effect of institutions on development, the costs of fractionalization, and research on the policies of social inclusion around the world.

Suggested Citation

  • Michael A. Valenti & Olivier G. Giovannoni, 2013. "The Economics of Inclusion: Building an Argument for a Shared Society," Economics Working Paper Archive wp_755, Levy Economics Institute.
    • Handle: RePEc:lev:wrkpap:wp_755
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    References listed on IDEAS

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    1. Stephen Knack & Philip Keefer, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(4), pages 1251-1288.
    2. De Long, J Bradford & Shleifer, Andrei, 1993. "Princes and Merchants: European City Growth before the Industrial Revolution," Journal of Law and Economics, University of Chicago Press, vol. 36(2), pages 671-702, October.
    3. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(1), pages 83-116.
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    Cited by:

    1. Patricia Justino, 2012. "Shared Societies and Armed Conflict: Costs, Inequality and the Benefits of Peace," HiCN Working Papers 125, Households in Conflict Network.
    2. Clem McCarthy & Wim Naudé, 2012. "Shared Societies: The Economic Case," Working Papers 2013/02, Maastricht School of Management.
    3. Lind, Hans & Annadotter, Kerstin & Björk, Folke & Högberg, Lovisa & af Klintberg, Tord, 2014. "Sustainable renovation strategy in the Swedish Million Homes Programme: A case study," Working Paper Series 14/2, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
    4. Hans Lind & Kerstin Annadotter & Folke Björk & Lovisa Högberg & Tord Af Klintberg, 2016. "Sustainable Renovation Strategy in the Swedish Million Homes Programme: A Case Study," Sustainability, MDPI, vol. 8(4), pages 1-12, April.
    5. Daniel Hyslop, 2012. "Can the Economics of Shared Societies Support More Resilient Economies and Global Sustainability? Challenges and opportunities in an interdependent world," Working Papers 2012/31, Maastricht School of Management.

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    More about this item

    Keywords

    Shared Societies; Economic Inclusion; Institutions; Economic Growth; Income Distribution;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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