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Erschienen in:
2012 | OriginalPaper | Buchkapitel
Introduction
verfasst von : R. Nagaraj
Erschienen in: Growth, Inequality and Social Development in India
Verlag: Palgrave Macmillan UK
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Since the industrial revolution, the world has come to accept a steady rise in income per head as the ‘natural’ state of an economy. Following Kuznets’s hypothesis — also known as the “inverted U” hypothesis — inequality is expected to rise initially and then fall with growing income levels. It is also believed that social development would improve in some proportion to the rise in per capita income; as the demand for social services increases; and as governments acquire a rising share of output as taxes, their ability to augment social services would go up.