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The Ethics and Economics of Inequality

The Ethics and Economics of Inequality. James K. Galbraith The University of Texas at Austin Frank Bryant Lecture UTHSCSA October 20, 2011. The US: Inequality in Pay and Unemployment, 1952-2005.

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The Ethics and Economics of Inequality

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  1. The Ethics and Economics of Inequality James K. Galbraith The University of Texas at Austin FrankBryant Lecture UTHSCSA October 20, 2011

  2. The US: Inequality in Pay and Unemployment, 1952-2005 Inequality measured on earnings across industries in manufacturing, monthly data; recessions entered in gray.

  3. The US: Income Inequality and the NASDAQ, 1969-2006 Internet Bubble Tax Reform Act Inequality Log of NASDAQ Income inequality measured between counties, from tax data

  4. U.S. Income Inequality Between Counties 1969 – 2005 Plotted Against the NASDAQ Composite, with Three Counterfactual Scenarios of Inequality Growth from 1994 – 2000 Without Manhattan Without Silicon Valley Without Top 15

  5. Contribution of European Provinces to Inequality Across the European continent, late 1990s.

  6. A Stylized “Augmented Kuznets Curve”

  7. The Common Movement of Inequality Measured within Countries, Across Time 9/11 Inequality Between Countries The Super Bubble End of Bretton Woods Profit Share in OECD Debt Crisis Note: The vertical axis represents the time element in a two-way fixed effects panel regression, across the panel of country-year observations. Vertical scale is log(T) units. Source: Kum 2008.

  8. An Example of Declining Inequality in the Post Neo- Liberal Era: Argentina after the Crisis of 2002.

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