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A worsening economic crisis due to the shift in wealth over the past decade is the central concern of this carefully documented study. It profiles the current status of income inequality in the United States and discerns disturbing trends for the future. A wealth of data are collected, evaluated, and simplified into a straightforward look at both the economic changes brought on by misguided reforms of the 1980s and a proposed system for measuring income inequality which may help clarify the issues pertinent to the debate.
Folke Dovring perceives the current U.S. economy as an imminent threat to our democratic system, and urges increased awareness of the variables which will effect its return to a healthy state of balance where income inequality, necessary to a certain degree, sustains productivity and individual incentives. A general overview of the facts and problems associated with income distribution, viewed from historical, geographical, and sociological perspectives, establishes the study's priorities, and is followed by the development of criteria which can more accurately estimate the nature and extent of income inequality, moving the study closer to recommendations for systematic public policy which may promote continued economic growth. The urgency with which Dovring addresses this topic and the thoroughness of his presentation will compel scholars and policymakers, especially those interested in poverty economics, to give immediate attention to the issue of economic inequality through informed, meaningful discussion.
List of contents
Preface
Overview
Meanings and Causes
Measurement
The United States
Across the World
Economic Growth and Development
Consequences for Society
What Is New in the United States?
To Turn the Trends
Appendix I: Population and Distributed Good: the Problem of a Companion Function
Appendix II: The Exponential Functions
References
Index
About the author
FOLKE DOVRING was Professor Emeritus of Agricultural Economics at the University of Illinois at Urbana-Champaign. He was the author of several books on political economy, including Productivity and Value (Praeger, 1987) and Progress for Food or Food for Progress? (Praeger, 1988).
