This is an intriguing little video summarizing the hypothesis of a new study by Vamsi Vakulabharanam. It looks at the puzzle of why China and India are exceptions to the Kuznets curve, that economic development at first increases income inequality but then starts to produce less disparity. But that did not occur in India and China. Vakulabharanam argues that the difference lies in changes in institutional arrangements, and the inflection point was roughly 1980.
- The Real Problem with High Frequency Trading - 04/21/2014 - Yves Smith
- Ilargi: Ukraine – Part of United States’ Desperate Solutions For Not Sinking Alone? - 04/21/2014 - Yves Smith
- Tom Engelhardt: Too Big to Jail? Why Kidnapping, Torture, Assassination, and Perjury Are No Longer Crimes in Washington - 04/21/2014 - Yves Smith
- Links 4/20/14 - 04/20/2014 - Yves Smith
- Abigail Field: Our Corrupt Tax Code - 04/20/2014 - Yves Smith