Inequality, Technology and Payments Systems

Frances Stewart

Chapter 1 in Work, Income and Inequality, 1983, pp 1-31 from Palgrave Macmillan

Abstract: Summary The chapter considers the way in which the interaction between technology, population growth and the payments system is responsible for growing inequality in many poor countries. The payments system describes the set of rules governing property rights, access to work and income from work. Payments systems may be classified into traditional, capitalist, mixed and socialist, although most economies exhibit hybrid characteristics. It is argued that capitalist and mixed economy payments systems are largely responsible for those situations where poverty has increased despite growth in per capita income. Finally the chapter considers methods of reforming the payments system.

Keywords: Income Distribution; Marginal Product; Payment System; Asset Accumulation; Mixed Economy (search for similar items in EconPapers)
Date: 1983
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Journal Article: Inequality, technology and payments systems (1978)
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DOI: 10.1007/978-1-349-05417-6_1

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