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Can the welfare state survive in an economically integrated world? Many have argued that globalization has undermined national policies to raise the living standards and enhance the economic opportunities of the poor. This book, by sixteen of the world's leading authorities in international economics and the welfare state, suggests a surprisingly different set of consequences: Globalization does not preclude social insurance and egalitarian redistribution--but it does change the mix of policies that can accomplish these ends. Globalization and Egalitarian Redistribution demonstrates that the free flow of goods, capital, and labor has increased the inequality or volatility of labor earnings in advanced industrial societies--while constraining governments' ability to tax the winners from globalization to compensate workers for their loss. This flow has meanwhile created opportunities for enhancing the welfare of the less well off in poor and middle-income countries. Comprising eleven essays framed by the editors' introduction and conclusion, this book represents the first systematic look at how globalization affects policies aimed at reducing inequalities. The contributors are Keith Banting, Pranab Bardhan, Carles Boix, Samuel Bowles, Minsik Choi, Richard Johnston, Covadonga Meseguer Yebra, Karl Ove Moene, Layna Mosley, Claus Offe, Ugo Pagano, Adam Przeworski, Kenneth Scheve, Matthew J. Slaughter, Stuart Soroka, and Michael Wallerstein.
A reduction of impediments to international flows of goods, capital and professional labor is thought to raise the economic costs of programs by the nation state (and labor unions) to redistribute income to the poor and to provide economic security. But some of the more politically and economically successful examples of such policies - for example Nordic social democracy and East Asian land reform - have occurred in small open economies which would, on the above account, provide a prohibitive environment for egalitarian interventions. I present a model of globalization and redistribution to answer the following question: In a liberalized world economy, what programs of egalitarian redistribution and social insurance are implementable by democratic nation states acting independently? While in the absence of international coordination, globalization indeed makes it difficult for nation states to affect the relative (after tax) prices of mobile goods and factors of production and for this and other reasons may limit the effectiveness of some conventional strategies of redistribution, a large class of state and trade union interventions leading to substantial improvements in the wages, employment prospects, and economic security of workers is not ruled out by globalization. Included are redistributions of assets which provide efficient solutions to incentive problems arising in principal agent relationships such as wage employment, farm and residential tenancy.
Is globalisation creating a more unequal world? Is it creating new forms of inequality? Does it make certain pre-existing forms of inequality more morally or politically significant than they would otherwise have been? Globalisation and Equality examines these and related questions, exploring the way increasing globalisation is challenging our conceptions of equality. The contributors explore these themes from both theoretical and empirical perspectives. Some adopt a more abstract approach, exploring foundational questions concerning the meaning of equality, its social and political dimensions, and more specifically its moral implications in a global context. Others engage the general themes of globalisation and equality by focusing on specific topics, such as welfare, citizenship, gender, culture, and the environment. Original in the questions it poses, and interdisciplinary in its approach, this collection of essays will appeal to all those with an interest in globalisation and equality.
Before 1980, democracy and egalitarian redistribution were closely linked. For recently democratizing countries, however, these patterns have become much less clear. Instead, many new democracies, which are mostly middle-income countries, have experienced little improvement, if not outright worsening, of inequality despite democratic transitions. Such trends challenge prominent theoretical models predicting that the extension of the franchise will allow the poor in more unequal societies to impose redistribution on the rich. This paper challenges that assumption, proposing instead a logic through which individuals faced with high and correlated risks, and who lack access to state-sponsored means to insure them, will forbear from using the opportunities afforded by political democracy to demand redistribution. The preliminary analysis provides support for this expectation, showing that insecure democracies - where political democracy is established without a basic social safety net to protect the most vulnerable citizens - tend, paradoxically, to entrench sharp economic inequalities. Instrumental variables analysis shows that economic integration has not contributed substantially to this outcome when controls for safety nets and human capital formation are introduced. Only where social safety nets are robust do we observe a positive contribution of democracy toward more egalitarian income redistribution in recent decades.
Incorporating the latest results from behavioral economics and microeconomic theory, Samuel Bowles argues that conventional economics has mistakenly presented inequality as the price of progress. In place of this view, he offers a novel and optimistic account of the possibility of a more just economy.
Why national and international equality matter and what we can do to ensure a fairer world In The Globalization of Inequality, distinguished economist and policymaker François Bourguignon examines the complex and paradoxical links between a vibrant world economy that has raised the living standard of over half a billion people in emerging nations such as China, India, and Brazil, and the exponentially increasing inequality within countries. Exploring globalization's role in the evolution of inequality, Bourguignon takes an original and truly international approach to the decrease in inequality between nations, the increase in inequality within nations, and the policies that might moderate inequality’s negative effects. Demonstrating that in a globalized world it becomes harder to separate out the factors leading to domestic or international inequality, Bourguignon examines each trend through a variety of sources, and looks at how these inequalities sometimes balance each other out or reinforce one another. Factoring in the most recent economic crisis, Bourguignon investigates why inequality in some countries has dropped back to levels that have not existed for several decades, and he asks if these should be considered in the context of globalization or if they are in fact specific to individual nations. Ultimately, Bourguignon argues that it will be up to countries in the developed and developing world to implement better policies, even though globalization limits the scope for some potential redistributive instruments. An informed and original contribution to the current debates about inequality, this book will be essential reading for anyone who is interested in the future of the world economy.
A debate between two philosophers who hold different views on the relation of redistribution to recognition.
In recent years women's movements and democracy movements appear to have been more successful in promoting social equality than labour movements or development movements. Wage gaps between men and women have narrowed. New democracies have flourished. Yet, gaps between the rich and poor remain. Do differences in organization and strategy account for the differences in outcomes? Through in-depth studies of the United States, Eastern and Western Europe, Latin America, Africa, China, and north- and southeast Asia the contributors to this volume provide some thought provoking answers.
Winner of the Bruno Kreisky Prize, Karl Renner Institut A Financial Times Best Economics Book of the Year An Economist Best Book of the Year A Livemint Best Book of the Year One of the world’s leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what policies might tilt the balance toward economic justice. “The data [Milanovic] provides offer a clearer picture of great economic puzzles, and his bold theorizing chips away at tired economic orthodoxies.” —The Economist “Milanovic has written an outstanding book...Informative, wide-ranging, scholarly, imaginative and commendably brief. As you would expect from one of the world’s leading experts on this topic, Milanovic has added significantly to important recent works by Thomas Piketty, Anthony Atkinson and François Bourguignon...Ever-rising inequality looks a highly unlikely combination with any genuine democracy. It is to the credit of Milanovic’s book that it brings out these dangers so clearly, along with the important global successes of the past few decades. —Martin Wolf, Financial Times