Abstract
This chapter discusses the distribution of income in China and begins with an analysis of the relationship between income and economic growth using the Kuznets Curve as an illustration. The Kuznets Curve assumes that as economic growth proceeds, differences in income first increase and eventually begin to fall; that is, differences in income eventually narrow, so that most people come to benefit from economic growth.
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Notes
- 1.
Technological change involves structural changes, such as in methods of production or changes induced through innovations; in contrast, technical changes imply small changes which do not alter the overall structure. Technological changes are the result of inventions and innovations, and therefore require the application of higher human capital.
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Joshua, J. (2017). The Distribution of Income. In: China's Economic Growth: Towards Sustainable Economic Development and Social Justice. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-59435-8_4
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DOI: https://doi.org/10.1057/978-1-137-59435-8_4
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