Understanding Economic Inequality
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Understanding Economic Inequality

Bigger Pies and Just Deserts

Todd A. Knoop

In Understanding Economic Inequality, the author brings an economist’s perspective informed by new, groundbreaking research on inequality from philosophy, sociology, psychology, and political science and presents it in a form that it is accessible to those who want to understand our world, our society, our politics, our paychecks, and our neighbors’ paychecks better.
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Chapter 8: What is the future of economic inequality?

Todd A. Knoop


In this chapter, we will attempt to discern the most likely path of inequality in the future, even if that path is sure to be different from what we expected. At the same time, we will also look forward to the factors that are most likely to play a role in making our forecasts about inequality wrong in the future, particularly the future impact of technological innovation, globalization, and public policy. Inequality matters because productivity is socially determined; perceptions of fairness influence our behavior; and inequality impacts institutions which are key determinants of how our economy and our society are doing. Like inequality itself, changing public policy to deal with inequality will only come about as the result of complicated synergies between people with different backgrounds and different levels of privilege, all interconnected in webs composed of externalities and ideas and social norms and psychology.

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