Increasing inequalities is one of the defining social, economic, and political challenges of the post-Global Financial Crisis (GFC) era. Apart from the negative social, public finance, and short-run growth effects of high inequality, the compelling evidence indicates that inequality is an important cause for the financial crises (Kumhof, Ranciere, and Winant 2015; Rajan 2010; de Haan and Sturm 2016; Turner 2016) and low long-term economic growth (World Economic Forum 2017; OECD 2015; IMF 2017). The inequality problem and its visible repercussions on economic growth and financial crises have spurred interest in the economics of inequality.
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Increasing inequalities is one of the defining social, economic, and political challenges of the post-Global Financial Crisis (GFC) era. Apart from the negative social, public finance, and short-run growth effects of high inequality, the compelling evidence indicates that inequality is an important cause for the financial crises (Kumhof, Ranciere, and Winant 2015; Rajan 2010; de Haan and Sturm 2016; Turner 2016) and low long-term economic growth (World Economic Forum 2017; OECD 2015; IMF 2017). The inequality problem and its visible repercussions on economic growth and financial crises have spurred interest in the economics of inequality.
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