Insights into Income Inequality

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BACKGROUND: Income Inequality is a subject capturing the attention of academicians, policy makers, business people, and the general population across the globe.

Numerous reports cite a growing gap between wealthy and poor in America and across the globe. One report from the Economic Policy Institute stated that between 1979 and 2007 the bottom 99% of households in the U.S. experienced an average income growth of 18.9%, while the top 1% of households experienced a much higher income growth of 200.5% (Sommelier & Price, 2015). The report cites broad-based income declines across the country in 2008, followed by income recovery characterized by the richest households recovering more than others, which led to measures of income inequality in 2012 that nearly matched levels last seen near the Great Depression.

A survey of the literature indicates an absence of agreement on the single cause of income inequality, whether the issue is studied in the U.S. or globally, and a lack of agreement on how to measure income inequality, poverty and related data. Nonetheless, domestic and global institutions involved in such research increasingly call income inequality one of the major socioeconomic questions for this century.

READINGS:

Select those most appropriate for the assignment, especially about Innovation, SMEs, Economic Growth, and Reducing Poverty.

1. Articles on MBAs and MBA Alums Studying Income Inequality

a. http://admissions.sg/blog/wsj-mbas-get-lessons-in-income-inequality/

b. http://fortune.com/2015/09/09/income-inequality-harvard/

2. Article Suggests Income Inequality Stems from Gap in Profitability at Employers

http://www.wsj.com/articles/behind-rising-inequality-more-unequal-companies-1446665769

3. Article on 2015 Nobel Prize Winner in Economics cites Applications for Income Inequality

http://www.ibtimes.com/who-angus-deaton-how-nobel-economics-prize-winners-income-inequality-research-2137557

4. Article states Global Reasons for Studying Income Inequality https://www.imf.org/external/pubs/ft/sdn/2015/sdn1513.pdf

5. Article states National and International Reasons for Studying Income Inequality

http://www.pewresearch.org/fact-tank/2014/12/17/wealth-gap-upper-middle-income/

6. Article on National Income Inequality

www.nber.org/digest/dec08/w13982.html

7. Article Dispels Income Inequality

www.forbes.com/sites/jeffreydorfman/2014/05/08/dispelling-myths-about-income-inequality/

8. Article Suggests Income Inequality Does not Exist, followed by link to Replies on that Article

a. http://www.scientificamerican.com/article/the-american-dream-of-income-equality-still-lives/

b. http://www.scientificamerican.com/article/readers-respond-to-the-myth-of-income-inequality/

9. http://ejpe.org/pdf/7-2-art-4.pdf

Erasmus Journal for Philosophy and Economics, Volume 7, Issue 2, Autumn 2014, pp. 73-115.

Measured, unmeasured, mismeasured, and unjustified pessimism: a review essay of Thomas Piketty’s Capital in the twenty-first century

DEIRDRE NANSEN MCCLOSKEY University of Illinois at Chicago Keywords: Piketty, capitalism, inequality

10. http://www.gordon.edu/download/pages/US%20and%20Global%20Poverty-Role%20of%20Aid.pdf

August 2006 The United States and Global Poverty: How Can Aid Make a Difference? Stephen L. S. Smith Professor of Economics, Gordon College

11. http://www.bea.gov/scb/pdf/2009/01%20January/0109_innovation.pdf

10 January 2009 BEA BRIEFING

Toward Better Measurement of Innovation and Intangibles

By Ana M. Aizcorbe, Carol E. Moylan, and Carol A. Robbins

12. http://www.jstor.org/stable/43548641?seq=1#page_scan_tab_contents

The Future of Innovation Studies in Less Economically Developed Countries

Logan D. A. Williams and Thomas S. Woodson

Minerva

Vol. 50, No. 2, Special Issue: An Agenda for Science and Technology Policy Studies? Emerging Themes from the Work of Young Scholars (June 2012), pp. 221-237

Published by: Springer

Stable URL: http://www.jstor.org/stable/43548641

Page Count: 17

13. http://www.jstor.org/stable/4228115?seq=1#page_scan_tab_contents

Advances and Challenges in Innovation Studies

Fulvio Castellacci, Stine Grodal, Sandro Mendonca and Mona Wibe

Journal of Economic Issues

Vol. 39, No. 1 (Mar., 2005), pp. 91-121

Published by: Taylor & Francis, Ltd.

Stable URL: http://www.jstor.org/stable/4228115

Page Count: 31

14. http://www.jstor.org/stable/41682947

The strength of science and technology drivers for SME innovation

Mario Davide Parrilli and Aitziber Elola

Small Business Economics

Vol. 39, No. 4 (November 2012), pp. 897-907

Published by: Springer

Stable URL: http://www.jstor.org/stable/41682947

Page Count: 11

15. http://www.jstor.org/stable/41408889

Start-up rates and innovation: A cross-country examination

Sergey Anokhin and Joakim Wincent

Journal of International Business Studies

Vol. 43, No. 1 (January 2012), pp. 41-60

Published by: Palgrave Macmillan Journals

Stable URL: http://www.jstor.org/stable/41408889

Page Count: 20

16. https://judiciary.house.gov/_files/hearings/Hearings%202012/Luddy%2009202012.pdf

TESTIMONY OF ROBERT L. LUDDY PRESIDENT CAPTIVEAIRE SYSTEMS, INC. RALEIGH, NORTH CAROLINA “Regulation Nation: The Obama Administration’s Regulatory Expansion vs. Jobs and Economic Recovery” Committee on the Judiciary U.S. House of Representatives

10:00 AM September 20, 2012

Room 2141 Rayburn House Office Building

17. http://www.gordon.edu/download/pages/US%20and%20Global%20Poverty-Role%20of%20Aid.pdf

August 2006

The United States and Global Poverty: How Can Aid Make a Difference?

Stephen L. S. Smith Professor of Economics, Gordon College

18. http://www.worldbank.org/en/topic/financialsector/brief/smes-finance

Small and Medium Enterprises (SMEs) Finance

19. http://www.brookings.edu/~/media/research/files/papers/2008/9/development%20gibson/09_development_gibson.pdf

Defining SMEs: A Less Imperfect Way of Defining Small and Medium Enterprises in Developing Countries.

By Tom Gibson, Principal of SMEthink; Co-Founder of Small Enterprise Assistance Funds. H. J. van der Vaart, Executive Chairman and Co-Founder of Small Enterprise Assistance Funds.

September 2008

20. http://www.cfr.org/economic-development/banking-growth-us-support-small-medium-enterprises-least-developed-countries/p31979