Business Intelligence

The Evolution Of Ideology, Fairness And Redistribution

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Executive Summary

Ideas about what is "Fair" above and beyond the individuals' position in the income ladder determine preferences for redistribution. The authors study the dynamic evolution of different economies in which redistributive policies, perception of fairness, inequality and growth are jointly determined. They show how including fairness explains various observed relationship between inequality, redistribution and growth. They also show how different beliefs about fairness can keep two otherwise identical countries in different development paths for a very long time.

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