Is Inequality Harmful for Growth?

10 Pages Posted: 22 Jul 2011

See all articles by Walter E. Block

Walter E. Block

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business

Date Written: July, 20 2011

Abstract

Some economic commentators claim that inequality of wealth or income reduces economic development and growth of GDP. But this is counterintuitive, since economic breakthroughs usually occur by dint of great effort, or discovery, or invention, which brings great wealth to those responsible (think Bill Gates). Nor is this thesis supported by a proper interpretation of the facts of the matter, despite the contentions of several authors in this regard.

Suggested Citation

Block, Walter E., Is Inequality Harmful for Growth? (July, 20 2011). Available at SSRN: https://ssrn.com/abstract=1890847 or http://dx.doi.org/10.2139/ssrn.1890847

Walter E. Block (Contact Author)

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business ( email )

6363 St. Charles Avenue
Box 15, Miller 321
New Orleans, LA 70118
United States
(504) 864-7944 (Phone)
(504) 864-7970 (Fax)

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