Article

Institutions, Wealth, and Inequality

Lane Kenworthy

in The Oxford Handbook of Comparative Institutional Analysis

Published in print April 2010 | ISBN: 9780199233762
Published online May 2010 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199233762.003.0015

Series: Oxford Handbooks in Business and Management

 Institutions, Wealth, and Inequality

More Like This

Show all results sharing these subjects:

  • Business and Management
  • Organizational Theory and Behaviour
  • Business Ethics

GO

Show Summary Details

Preview

Wealth and inequality are among the key macro-level outcomes studied by social scientists. They are of considerable interest not only to researchers, but also to citizens and policymakers. This article reviews and assesses theories and empirical findings on the impact of institutions on national wealth and inequality. It focuses on macro-comparative research on affluent countries. National wealth is typically measured as gross domestic product per capita. Prior to the 1970s, thinking about the determinants of national wealth was dominated by the approach used by mainstream economists. That approach focuses on capital, labour, and technology, and it assumes that poorer countries catch up with richer ones via factor equalization. In the 1950s and 1960s, patterns among the world's richest countries seemed to more or less conform to this expectation. But in the 1970s, a number of these countries experienced sharp economic downturns.

Keywords: wealth; inequality; social scientists; policymakers; capital; labour; technology

Article.  9225 words. 

Subjects: Business and Management ; Organizational Theory and Behaviour ; Business Ethics

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.