income inequality

The understanding of inequality has evolved from the traditional outcome-oriented view, whereby income is used as a proxy for well-being. The opportunity-oriented perspective acknowledges that circumstances of birth are essential to life outcomes and that equality of opportunity requires a fair starting point for all.

Diverging Growth and Development By many measures, world inequality is high and rising. The main reason is that in the industrialized world the income level over the last five decades has grown steadily, while it has failed to do so in many developing ...