1945

Prospects for Progressive Tax Policies in Asia and the Pacific

Some 60 years ago, Simon Kuznets suggested, through his famous inverse U-shaped curve, that economic development leads first to a rise in income inequality but when development reaches a more advanced stage inequality “naturally” falls back again. Since then, an extensive debate developed over whether this hypothesis is adequately supported by empirical evidence. His prediction appears to be only half correct: inequality did fall back in developed countries, but only as a result of deliberate public policy interventions and institutional changes.

Related Subject(s): International Trade and Finance
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