By Janet Gornick, Markus Jantti
This cutting-edge quantity provides comparative, empirical learn on a subject that has lengthy preoccupied students, politicians, and daily electorate: monetary inequality. whereas source of revenue and wealth inequality throughout all populations is the first concentration, the contributions to this booklet pay distinct consciousness to the center type, a phase usually no longer addressed in inequality literature. The examine additionally casts vital mild on how monetary inequality impacts and is plagued by gender disparities, exertions markets, associations, and politics.
Written by way of top students within the box of financial inequality, all 17 chapters draw on microdata from the databases of LIS, an esteemed cross-national facts middle dependent in Luxembourg. utilizing LIS information to constitution a comparative procedure, the members paint a posh portrait of inequality throughout prosperous international locations at first of the twenty first century. the quantity additionally trail-blazes new study into inequality in international locations newly coming into the LIS databases, together with Japan, Iceland, India, and South Africa.
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Additional info for Income Inequality: Economic Disparities and the Middle Class in Affluent Countries (Studies in Social Inequality)
Sample text
The 12 comparative chapters (Chapters 1 to 12) utilize datasets from high-income countries, with only two exceptions: one chapter includes Mexico and one includes Russia. This is simply because this group of commissioned authors started their work before a recent spate of middleincome datasets (from Latin America, and India and South Africa, thus far) was added to the LIS data archive. Finally, among the 17 commissioned chapters are 4 (see Part VI) that assess inequality in selected countries for which microdata had not yet been added to the LIS Database when the chapters were commissioned.
Rules that lead capital incomes to be taxed at lower rates than labor earnings again provide incentives to convert executive compensation into capital income (rather than labor income) and will thus lead to greater inequality. 18 Janet C. Gornick and Markus Jäntti A Contemporary Portrait of Income Inequality Based on LIS Data We build on existing literature on levels and trends in income inequality, using the LIS microdata and drawing on the most recent “wave” of LIS data—that is, the data centered on 2004.
The central question addressed in Chapter 2 is how the position of the middle class depends on the way it is defined. Chapter 3 examines whether increased income inequality has led to stunted income growth for the middle class. An associated line of inquiry concerns how the life chances of different birth cohorts have changed over time, especially with respect to their chances of attaining a middle-class income position. This question is addressed in Chapter 4. In Chapter 2, Anthony Atkinson and Andrea Brandolini examine how assessments of characteristics of the middle depend on which definition of the middle class is used.