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Inequality: concepts, data, perspectives and solutions

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journal contribution
posted on 2023-06-07, 06:30 authored by Michael Chibba, John Da Silva LuizJohn Da Silva Luiz
A comprehensive treatise on inequality from economic, social, business and metrics/data perspectives is lacking in the literature and this treatise fills that void. We posit that: (a) neoclassical economics has failed to address inequality within nations; (b) the social theories on inequality are of ancillary importance; (c) businesses have contributed to inequality in several ways but have also made a positive contribution towards a fairer, more equitable society; (d) data on inequality is not up to date. Taxation and social programs offer an inadequate approach to tackling inequality without a proper framework and supporting approaches. In addition, complementarity between neoclassical economics and behavioural economics would be a positive factor in addressing inequality and should be pursued. Issues of inequality metrics and data reliability have moved to the forefront of discussions as the data currently available is the basis of much dissent. Robust metrics and reliable and up to date inequality data (as well as related statistics) are indispensable for designing, implementing, monitoring, and evaluating inequality interventions and policies.

History

Publication status

  • Published

File Version

  • Published version

Journal

World Economics

ISSN

1468-1838

Publisher

Economic and Financial Publishing

Issue

1

Volume

20

Page range

1-54

Department affiliated with

  • Strategy and Marketing Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2019-04-16

First Open Access (FOA) Date

2019-05-07

First Compliant Deposit (FCD) Date

2019-04-15

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