Inequality and Economic Growth: The Perspective of the New Growth Theories
这篇综述从两个方向分析不平等与经济增长的关系：一是考察不平等对增长的影响，发现资本市场不完善时公平与效率未必冲突；二是分析增长如何通过技术变革加剧工资不平等。
We analyze the relationship between inequality and economic growth from two directions. The first part of the survey examines the effect of inequality on growth, showing that when capital markets are imperfect, there is not necessarily a trade-off between equity and efficiency. It therefore provides an explanation for two recent empirical findings, namely, the negative impact of inequality and the positive effect of redistribution upon growth. The second part analyzes several mechanisms whereby growth may increase wage inequality, both across and within education cohorts. Technical change, and in particular the implementation of “General Purpose Technologies,” stands as a crucial factor in explaining the recent upsurge in wage inequality.