![]() ![]() ![]() However, this view is hotly disputed by other approaches in economics (section 1), and indeed cannot be sustained when we turn to specific policy domains such as education (2), environmental protection (3), or health and safety (4). How, then, should policy advice take account of inequality? A traditional view within economics counsels the separation of “efficiency” and “equity.” Supposedly, equity concerns can be handled by the tax-and-transfer system policy advice in other areas can ignore equity considerations. Within-country inequality is both politically destabilizing (as in the Trump election or Brexit), and intrinsically ethically problematic, at least to the extent that it can be redressed without shifting costs onto those who are globally less well off. ![]() Although global income and wealth inequality has declined in recent decades with economic growth in China, India, Africa, and elsewhere, income and wealth inequality within developed countries has increased. A final theme is the recurrent question of inequality. ![]()
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