Evolutionary Economics and Income Inequality

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Overview

"The expert contributors gathered here approach underdevelopment and inequality from different evolutionary perspectives. It is argued that the Schumpeterian processes of 'creative destruction' may take the form of wealth creation in one part of the globe and wealth destruction in another. Case studies explore and analyse the successful 19th century policies that allowed Germany and the United States to catch up with the UK and these are contrasted with two other case studies exploring the deindustrialization and falling real wages in Peru and Mongolia during the 1990s. The case studies and thematic papers together explore, identify and explain the mechanisms which cause economic inequality. Some chapters point to why the present form of globalization increases poverty in many Third World nations." Members of the anti-globalization movement will find the explanations given in this book insightful, as will employees of international organizations due to the important policy messages. The theoretical interest within the book will appeal to development economists and evolutionary economists, and policymakers and politicians will find the explanations of the present failure of many small nations in the periphery invaluable.
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Product Details

Table of Contents

Introduction 1
1 The other canon : the history of renaissance economics 21
2 Natural versus social sciences : on understanding in economics 71
3 The views of the German historical school on the issue of international income distribution 91
4 Technical progress and obsolescence of capital and skills : theoretical foundations of nineteenth-century US industrial and trade policy 100
5 Natural resources, industrialization and fluctuating standards of living in Peru, 1950-97 : a case study of activity-specific economic growth 115
6 Globalization in the periphery as a Morgenthau plan : the underdevelopment of Mongolia in the 1990s 157
7 Technological revolutions, paradigm shifts and socio-institutional change 217
8 Income inequality in changing techno-economic paradigms 243
9 Information technology in the learning economy : challenges for developing countries 258
10 Diversity : implications for income distribution 288
11 Convergence, divergence and the Kuznets curve 309
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