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Capital Resource Inequality

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  • Chatterjee, Sidharta

Abstract

The goal of this paper is to discuss the basis of knowledge inequality in affecting positive growth and development of a country. Optimal and rational allocation of resources is a requisite for efficient distribution of any resources—whether natural or synthetic resources (knowledge), within a society. Knowledge now being considered a primary form of capital resource, it forms the backbone of a national economy driven by the knowledge of high-technology manufacturing and production. It is also a form of intellectual capital which requires human endeavor for its creation and acquisition. Since knowledge is imparted by education and learning, the role of education in delivering knowledge is one of the most important factors of national development and social progress. Inefficient, irrational allocation of this capital resource results in widespread social and economic inequality which could be reduced only if there exists fairness in its allocation processes. This paper attempts to highlight these issues and introduces a new form of inequality—Capital Resource Inequality (CRI) which addresses the problem of knowledge allocation across societies.

Suggested Citation

  • Chatterjee, Sidharta, 2020. "Capital Resource Inequality," MPRA Paper 104161, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:104161
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    References listed on IDEAS

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    1. Kaushik Basu & Joseph E. Stiglitz (ed.), 2016. "Inequality and Growth: Patterns and Policy," International Economic Association Series, Palgrave Macmillan, number 978-1-137-55454-3.
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    6. Kaushik Basu & Joseph E. Stiglitz, 2016. "Inequality and Growth," World Bank Publications - Books, The World Bank Group, number 24983.
    7. Dan Andrews & Chiara Criscuolo, 2013. "Knowledge-Based Capital, Innovation and Resource Allocation," OECD Economics Department Working Papers 1046, OECD Publishing.
    8. Kaushik Basu & Joseph E. Stiglitz (ed.), 2016. "Inequality and Growth: Patterns and Policy," International Economic Association Series, Palgrave Macmillan, number 978-1-137-55459-8.
    9. Birdsall, Nancy, 1996. "Public spending on higher education in developing countries: Too much or too little?," Economics of Education Review, Elsevier, vol. 15(4), pages 407-419, October.
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    Cited by:

    1. Chatterjee, Sidharta, 2021. "On the Theory of Knowledge Resource Inequality: Role of Knowledge Capital in Social Transformation," MPRA Paper 105221, University Library of Munich, Germany.

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    More about this item

    Keywords

    Capital Resource Inequality (CRI); Intellectual Capital; Knowledge; benefits of knowledge; reformation; education; access to knowledge; use of knowledge; inequality;
    All these keywords.

    JEL classification:

    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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