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Martin Ravallion v. Ricardo Fuentes on poverty, inequality and growth

LTD Editors's picture

A lively debate is underway on Duncan Green's From Poverty to Power blog, with a new post by Martin in response to Ricardo Fuentes, the new head of research at Oxfam Great Britain. Fuentes has in turn posted a rejoinder in the same space, which touches in part on inequality in the U.S. and the 'one percenter' phenomenon. We hope interested parties will keep the discussion going and that the poverty angle will be explored more deeply, both on this platform and on FP2P. 


Submitted by Gloria Ospina on
Inequality has been been a pervasive issue of developing countries, still is,while American society was usually regarded the closest to the perfect Middle Class democracy and economy. However, recent data and publications (Joseph Stiglitz,The Price of Inequality;Ricardo Fuentes on Poverty,Inequality and Growth) are focusing on the wealthiest 1% of americans who captured 93% of additional income in 2010, while the large American Middle Class which used to sustain American Democracy,has been shrinking continuosly. There has always been income and wealth inequality in America, but the levels at which the income disparities appear today are of serious concern,if the quality of American Democracy is to be preserved. How and why this detriorating socio-economic process has occurred ,and how its worsening could be prevented,is a theme of the utmost importance for policy makers, political leaders and political economists.