Economic inequality has become a focus of prime interest for economic analysts and policy makers. This book provides an integrated approach to the topics of inequality and personal income distribution. It covers the practical and theoretical bases for inequality analysis, applications to real world problems and the foundations of theoretical approaches to income distribution. It also analyses models of the distribution of labour earnings and of income from wealth. The long-run development of income - and wealth - distribution over many generations is also examined. Special attention is given to an assessment of the merits and weaknesses of standard economic models, to illustrating the implications of distributional mechanisms using real data and illustrative examples, and to providing graphical interpretation of formal arguments. Examples are drawn from US, UK and international sources.
• First comprehensive textbook on major policy issue of the 90s in the developed world • Cowell is one of the leading authorities in the world on the economics of inequality • Provides masses of real-world data drawn from a variety of international sources
Preface; 1. Why bother about inequality?; 2. Steps in the study of economic inequality; 3. Inequality and history; 4. Inequality, meaning and measurement; 5. Social welfare and inequality analysis; 6. Determinants of economic inequality; 7. The distribution of income from employment; 8. The dynamics of earnings; 9. The distribution of wealth; 10. Fantastic models of wealth distribution; 11. Stochastic models of wealth and income distribution; 12. Policy; Appendices; Bibliography; Index.