What may constitute an equal Society? Addressing externalities of globalization
Abstract. This paper is a short review of Mamoon (2007) analysis on inequality where it is contrasted with growth. The economic processes or institutional dynamics that are good for growth may not be a priority if inequalities are the prime consideration. For example rule of law and control for corruption are the most salient factors to mitigate inequality but though they are also good for growth, it is good regulation that takes the lead in growth promotion. China has been benefitting from good market regulation - a pro capitalist economic tool kit while suffering from rising inequality that may be due to less emphasis on control for corruption.
Keywords. Inequality, Growth, Globalization, Institutions.JEL. F20, F15.
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