Conclusions: Local Inequalities, Global Responsibilities
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The previous chapters have made the case for considering economic inequality as a major scourge on the development and growth potential of developing societies. Having considered the evidence, one cannot but agree with Easterly (2002) who concludes that inequality, independently of other factors, is a large and statistically significant barrier to developing the institutional framework and human capital on which successful human development depends. These pages have also presented evidence that inequality hinders the implementation of sensible macroeconomic strategies, impedes the development of pro-poor policies, limits the growth of human capital stocks, undermines social cohesion, fuels social discontent, narrows political participation, and promotes corruption and crime (Justino et al., 2003).
KeywordsEconomic Inequality Mobile Capital Development Assistance Capital Account Leadership Failure
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