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DPU Working Paper - No. 119

Economic Growth and Income Inequality: Theoretical Background and Empirical Evidence

119

27 August 2002

Author: Cesar Gallo

Publication Date:聽2002

All sciences should be aimed at providing humanity with a better quality of life. The classical economists were concerned with this objective of Economics as a science. According to Adam Smith (1884), no society can be flourishing and happy, of which the far greater part of the members are poor and miserable.

David Ricardo placed the distribution of income at the centre of his thought when he stated that Political Economy should be aimed at determining the laws that rule the distribution of income (Bigsten, 1983途 Ferr谩n, 1997, Atkinson, 1997). Hartwell (1972) goes further in arguing that 鈥淓conomics is, in essence, the study of poverty鈥 (p. 3).聽

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