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OSUN Theme: Inequalities
Economic Growth and Inequality
Term:
January 30, 2023 – May 24, 2023
Level
: 200-Level
Day/Time:
Tuesdays and Thursdays, 08:30-09:50 New York Time, 14:30-15:50 Vienna Time
Instructor:
Liudmila Malyshava
, Bard College
Register here
Credits
: 4 US / 8 ECTS
Prerequisite:
Introduction to Microeconomics and Introduction to Macroeconomics or permission of the instructor
Since the 1980s, income inequality has increased dramatically and is now the highest on record. Economists have only recently acknowledged and turned their attention to these facts. There is still much uncertainty regarding the causes and consequences of such disturbing trends, let alone the potential economic policies required to combat inequality and restore social justice. This course presents a survey of the landmark theories of economic growth and income distribution focusing on their interconnectedness. Students are invited to explore the causes and consequences of economic inequality from a variety of analytical perspectives, to judge the current social division based on ethical and moral values, and to discuss concrete actions to bring about positive change toward a just society. Through what processes is income created and distributed? Why has growth become so biased towards the very few? Is there such a thing as a balanced, or equitable growth and if so, what does it take? Why do policies designed to address inequality end up exacerbating its already unprecedented levels and lead to further, more pronounced social class division and concentration of power? In answering these questions, we focus on the case of the United States, the most unequal economy in the world, and complement our analysis with international comparisons.