It was part of common wisdom that in the early stages of development inequality would rise, but it would, eventually, decline. As time passed and growth persisted, inequality has, however, continued to grow, casting doubt on the received wisdom.
Joseph E. Stiglitz is University Professor at Columbia University and the winner of the 2001 Nobel Prize for Economics. He served on President Clinton's economic team as a member and then Chairman of the U.S. Council of Economic Advisors in the mid-1990s. He then joined the World Bank as Chief Economist and Senior Vice President. Kaushik Basu is the Chief Economist and Senior Vice President of the World Bank currently on leave from Cornell where he is Professor of Economics and the C. Marks Professor of International Studies. Previously he served as Chief Economic Adviser to the Government of India.
Introduction: Inequality and Growth: A Preamble; Kaushik Basu, Joseph E. Stiglitz and Vivian Hon 1. The Inheritance of Employers and Nonlinearities in Intergenerational Earnings Mobility; Miles Corak and Patrizio Piraino Towards Understanding Intergenerational Persistence, Slowly: Comments on 'The Inheritance of Employers and Nonlinearities in Intergenerational Earnings Mobility'; Francisco Ferreira 2. Do Nations Just Get the Inequality They Deserve? The 'Palma Ratio' Reexamined; Jose Gabriel Palma Measuring Income Inequality: Comments on 'Do Nations Just Get the Inequality They Deserve? The 'Palma Ratio' Reexamined'; Joseph E. Stiglitz 3. The University of Texas Inequality Project (UTIP) Global Inequality Data Sets 1963-2008: Updates, Revisions and Quality Checks; James K. Galbraith, Beatrice Halbach, Aleksandra Malinowska, Amin Shams and Wenjie Zhang Measuring Global Inequality: Comments on 'The University of Texas Inequality Project (UTIP) Global Inequality Data Sets 1963-2008'; Edward N. Wolff 4. Inequality and the Fragility of Growth; Jonathan D. Ostry Comments on 'Redistribution, Inequality and Growth'; Francois Bourguignon 5. Does Wealth Distribution and the Source of Wealth Matter for Economic Growth? Inherited v. Uninherited Billionaire Wealth and Billionaires Political Connections; Sutirtha Bagchi and Jan Svejnar A Sociological Perspective on Wealth Inequality and Opportunity: Comments on 'Does Wealth Distribution and the Source of Wealth Matter for Economic Growth? Inherited v. Uninherited Billionaire Wealth and Billionaires Political Connections'; Kendra Bischoff 6. Inequality in Arab Countries; Radwan A. Shaban Resolving the Arab-Spring Paradox: Comments on 'Inequality in Arab Countries'; Shantayanan Devarajan 7. Deconstructing the Decline in Inequality in Latin America; Nora Lustig, Luis F. Lopez-Calva and Eduardo Ortiz Juarez A Macroeconomic Accounting Note to Pope Francis: Comments on 'Deconstructing the Decline in Inequality in Latin America'; Celestin Monga 8. Caste Discrimination in Contemporary India; Ashwini Deshpande Reflections on Caste and Integrroup Disparity: Comments on 'Caste Discrimination in Contemporary India'; William A. Darity, Jr.
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