Economic Development as Opportunity Equalization

27 Pages Posted: 20 Sep 2006

See all articles by John E. Roemer

John E. Roemer

Yale University - Department of Political Science; Yale University - Cowles Foundation

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Date Written: September 2006

Abstract

The justification of using GNP per capita as a measure of economic development is utilitarian ethics plus an assumption that no needs are more urgent than others. Here, we advocate a measure of economic development based on the degree to which the society in question has equalized opportunities for the acquisition of income. In highly developed economies, inequality of opportunity accounts for less than 10% of total inequality, while in developing economies, it accounts for over 30%.

Keywords: Equality of opportunity, Economic development

JEL Classification: O10, D63

Suggested Citation

Roemer, John E., Economic Development as Opportunity Equalization (September 2006). Cowles Foundation Discussion Paper No. 1583, Available at SSRN: https://ssrn.com/abstract=931479

John E. Roemer (Contact Author)

Yale University - Department of Political Science ( email )

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HOME PAGE: http://pantheon.yale.edu/~jer39/

Yale University - Cowles Foundation

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