“The End of ‘Growth with Equity’? Economic Growth and Income Inequality in East Asia”
Honolulu East West Center
In a concise paper, Wang Feng makes an argument for government intervention in China to stem the growing economic inequality in the country.
For those who are uncomfortable with the idea of government intervention, Wang argues that the government (especially in China) can create the conditions for growing inequality. Wang’s implication is plain: the Chinese government has, knowingly or otherwise, fostered the circumstances that have allowed for unsustainable inequality to build. Government action is essential to address the root causes of that inequality.
Wang pulls no punches when it comes to naming culprits. Unless state-owned monopolies are broken up and the concentration of economic power in the hands of the state brought to an end, inequality will continue to grow and instability will result.
This paper is superb read that is refreshingly bereft of technical economic language, makes a clear case for an even more extreme course of reform than the World Bank’s China 2030 made five months ago.
- How Much Inequality? (economistsview.typepad.com)
- People’s experience of growing inequality: a closer look at the “middle” (inequalitiesblog.wordpress.com)
- Malcolm Gladwell on the Situation of Equality Discourse (thesituationist.wordpress.com)
- ‘Inequality and Redistribution during the Great Recession’ (economistsview.typepad.com)
- Income Inequality, Racism and Imprisonment (my.firedoglake.com)