The Political Economy of Inequality

Overview

<p>The disparity in wealth both within and between nations has grown rapidly in recent years, and is becoming an increasingly significant issue in attempts to deal with environmental problems - from international negotiations over climate change to local concerns about environmental justice.<p>The Political Economy of Inequality offers an in-depth examination of the economic theory behind the causes, consequences, and cures for inequality. The volume brings together disparate analyses of inequality in economic and related fields,
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Overview

<p>The disparity in wealth both within and between nations has grown rapidly in recent years, and is becoming an increasingly significant issue in attempts to deal with environmental problems - from international negotiations over climate change to local concerns about environmental justice.<p>The Political Economy of Inequality offers an in-depth examination of the economic theory behind the causes, consequences, and cures for inequality. The volume brings together disparate analyses of inequality in economic and related fields, identifies areas where more work is most needed, and lays the groundwork for an integrated understanding of the causes and consequences of inequality in the United States and the world.<p>Sections cover:<ul> <li>the distribution of earnings <li>the distribution of wealth <li>celebrity and CEO incomes <li>the effects of corporate power <li>poverty, inequality, and power <li>household roles and family structure <li>skills, technology, and education <li>categorical inequalities, such as those based on race, gender, or ethnicity <li>inequality on a global scale <li>the welfare state</ul> The book is the fifth in the six-volume Frontier Issues in Economic Thought series. Each volume offers two- to three-page summaries of the most notable articles and chapters in a "frontier" area where important new work is being done but has not yet been incorporated into the standard definition of economics. Introductory essays by the editors review the field, cite other literature that was not summarized, and situate the summarized articles within an overview of the subject.<p>As with the other volumes in the series, The Political Economy of Inequality offers an invaluable overview of an emerging field of economics and is a unique reference for students and scholars concerned with economic policy, social economics, work and labor issues, international and sustainable development, or related topics.
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Product Details

  • ISBN-13: 9781559637978
  • Publisher: Island Press
  • Publication date: 3/1/2000
  • Series: Frontier Issues in Economic Thought
  • Edition description: 1
  • Pages: 448
  • Product dimensions: 5.90 (w) x 9.00 (h) x 1.10 (d)

Table of Contents

Authors of Original Articles
Foreword
Acknowledgments
Volume Introduction
Pt. I Unequal Earnings: Theory versus Reality
Overview Essay 1
Bringing Income Distribution In from the Cold 10
Wage Polarization in the U.S. and the "Flexibility" Debate 14
Wielding the Stick 18
Rising Wage Inequality: The U.S. versus Other Advanced Countries 21
Inequality, Unemployment, Inflation, and Growth 25
Trends in the Level and Distribution of U.S. Living Standards: 1973-1993 29
Pt. II The Distribution of Wealth and Power
Overview Essay 33
International Comparisons of Wealth Inequality 42
Long-Term Trends in American Wealth Inequality 45
A Story of Two Nations: Race and Wealth 48
The Corporate Community and the Upper Class 52
Structures of Corporate Control 56
Pt. III New Paths to the Top: CEO and Celebrity Compensation
Overview Essay 61
How Winner-Take-All Markets Arise and The Growth of Winner-Take-All Markets 77
The Cost of Talent: Summing Up 80
Management Compensation Plans - Panacea or Placebo? 84
Top Executive Pay: Tournament or Teamwork? 88
Why Do Pro Athletes Make So Much Money? 91
Marginal Revenue and Labor Strife in Major League Baseball 95
Pt. IV Corporate Power: Why Does It Matter?
Overview Essay 99
Economy: The Political Foundations of Production and Exchange 112
Business Unity, Business Power 116
Bigness and Social Efficiency: A Case Study of the U.S. Auto Industry 119
The Dark Side of Flexible Production 123
Power, Accumulation, and Crisis: The Rise and Demise of the Postwar Social Structure of Accumulation 127
The Mobilization of Corporate Conservatism 130
Markets and Politics 134
The Solution: A Better Scorecard and What the Scorecard Should Contain 138
Pt. V Poverty, Inequality, and Power
Overview Essay 143
Income, Deprivation, and Poverty and Implications for Conceptualizing and Measuring Poverty 151
The Age of Extremes: Concentrated Affluence and Poverty in the Twenty-First Century 155
Social Exclusion: Toward an Analytical and Operational Framework 158
Poor Relief and the Dramaturgy of Work 162
Not Markets Alone: Enriching the Discussion of Income Distribution 166
Pt. VI Intrahousehold Dynamics and Changing Household Composition
Overview Essay 171
Trade, Merger, and Employment: Economic Theory on Marriage 182
Gender Coalitions: Extrafamily Influence in Intrafamily Inequality 186
Renegotiating the Marital Contract: Intrahousehold Patterns of Money Allocation and Women's Subordination Among Domestic Outworkers in Mexico City 190
Incomes, Expenditures, and Health Outcomes: Evidence on Intrahousehold Resource Allocation 194
The Marginalization of Black Men: Impact on Family Structure 197
Single Mothers in Sweden: Why Is Poverty Less Severe? 201
Pt. VII Technology, Skills, and Education
Overview Essay 205
Institutional Failure and the American Worker: The Collapse of Low-Skill Wages 214
Technology and Changes in Skill Structure: Evidence from an International Panel of Industries 217
The "Skill-oriented" Strategies of German Trade Unions: Their Impact on Efficiency and Equality Objectives 221
Access to Education 224
The Economics of Justice in Education 228
Making the Grade: Educational Stratification in the United States, 1925-1989 231
Pt. VIII Categorical Inequality
Overview Essay 235
Race and Gender Wage Gaps in the Market for Recent College Graduates 249
Intergroup Disparity: Economic Theory and Social Science Evidence 252
What's Fairness Got To Do With It? Environmental Justice and the Siting of Locally Undesirable Land Uses 255
Tracking Racial Bias 259
The Impact of Economic Change on Minorities and Migrants in Western Europe 262
The Political Economy of Gender and Economic Progress and Gender Equality 266
The Gender Pay Gap 270
Social Construction of Skill: Gender, Power, and Comparable Worth 274
Racial Antagonisms and Race-Based Social Policy 277
The Future of Affirmative Action: Reclaiming the Innovative Ideal 281
Pt. IX World Income Inequality and the Poverty of Nations
Overview Essay 287
Divergence, Big Time 299
Globalization and Inequality, Past and Present 303
Income Distribution and Poverty: An Interregional Comparison 306
Income Inequality and Development: The 1970s and 1980s Compared 309
The Relationship Between Wage Inequality and International Trade 313
Openness and Wage Inequality in Developing Countries: The Latin American Challenge to East Asian Conventional Wisdom 316
The Distributional Impact of Privatization in Developing Countries 320
Income Distribution in Developing Economies: Conceptual, Data, and Policy Issues in Broad-Based Growth 323
Pt. X Responses to Inequality: The Welfare State
Overview Essay 327
Is There an Explanation? Alternative Models of the Labor Market and the Minimum Wage 339
Generating Equality and Eliminating Poverty, the Swedish Way 343
How Social Democracy Worked: Labor-Market Institutions 347
The American Paradox: High Income and High Child Poverty 351
Who Paid for the Canadian Welfare State during 1955-1988? 354
On Targeting and Family Benefits 357
Bibliography 361
Subject Index 377
Name Index 401
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