Although this thread began with some early taunts and flames, I think it is
helping to shape out a picture of what growth means. I have not seen any
professional academic journal article -- probably due to my own ignorance --
that describes how growth affects difference classes and sub-classes. Lenin's
The Development of Capitalism in Russia is not bad in this respect.
Brad typically relies on averages. I have challenged him numerous times on
this.
[I do not think that his beliefs qualify him as a doctrinaire ideologue of
laissez-faire, as some of you have alleged.]
Rapid growth seems to be associated, in most cases, with deteriorating
conditions for the lowest quintile, differentiation within the less
impoverished classes, and wild accumulations for the top -- sort of like our
own "new economy" until the late 1990s.
Most discussions of growth tend to operate with grosser generalizations than my
gross generalization -- claiming that growth hurts the poor or helps the
people. A. K. Sen suggests a more refined vision, but he seems to work with
cross sectional observations. Simon Kuznets said that inequality would
increase, but only temporarily.
I am sure that I have overlooked a great deal of major importance, but in my
ignorance, I am not sure what it is at the moment.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
