TITLE:
Growth with Redistribution as Development Goal: Why, How, When, and What Are Country Performances?
AUTHORS:
Solomon I. Cohen
KEYWORDS:
Economic Development, Economic Growth, Growth Accounting, Human Capital, 30 Leading Developing Countries
JOURNAL NAME:
Theoretical Economics Letters,
Vol.14 No.3,
June
13,
2024
ABSTRACT: We elaborate on six rationales for formulating the primary goal of economic development as sustained economic growth with progressive endowment redistributions (GWR). The rationales draw on theories and empirics on welfare theorems, marginal utility, growth accounting, human capital, dual economies, and long-term structural transformations. Next to answering the why question on pursuing GWR, we discuss policy viewpoints on how and when to affect GWR. The paper goes further into quantifying and evaluating country performances among 30 leading developing countries in the recent past, and shows where GWR has been more successful or lagging.