Inequality of opportunity and economic development /

Inequality of opportunity and economic development /

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Bibliographic Details
Author / Creator:	Ferreira, Francisco H. G.
Imprint:	Washington, D.C. : World Bank, Development Research Group, Poverty Team, 2006.
Description:	20 p. : ill. ; 28 cm.
Language:	English
Series:	Policy research working paper ; 3816 Policy research working papers ; 3816.
Subject:	Income distribution. Equality. Educational equalization. Wealth. Power (Social sciences) Educational equalization. Equality. Income distribution. Power (Social sciences) Wealth.
Format:	E-Resource Print Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/5885935

Hidden Bibliographic Details
Other authors / contributors:	Walton, Michael, 1953- World Bank. Development Research Group. Poverty.
Notes:	"January 2006"--Cover. Includes bibliographical references (p. 17-20). Also available on the World Wide Web.
Summary:	Just as equality of opportunity becomes an increasingly prominent concept in normative economics, the authors argue that it is also a relevant concept for positive models of the links between distribution and aggregate efficiency. Persuasive microeconomic evidence suggests that inequalities in wealth, power, and status have efficiency costs. These variables capture different aspects of people's opportunity sets, for which observed income may be a poor proxy. One implication is that the cross-country literature on income inequality and growth may have been barking up the wrong tree, and that alternative measures of the relevant distributions are needed. The authors review some of the detailed microeconomic evidence, and then suggest three research areas where further work is needed.

Mansueto

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Call Number:	HG3879.P6 no.3816
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