Modeling global interdependence: centers, peripheries, and frontiers

Article Abstract:

The theory of convergence has been used by economists in creating models to examine economic development. This theory can be better explained by using the 'train on parallel tracks' analogy wherein the diminishing returns on capital concept is illustrated. The analogy does not include the role of technological diffusion, trade and factor mobility in capital accumulation. It contradicts the experiences of East Asian dragon economies which relied on trade for economic growth.

Analysis, Economic development, International economic relations, Commerce

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Changes in inequality of family income in seven industrialized countries

Article Abstract:

Earnings inequality increased in the US, UK, Canada, Australia, the Netherlands, France and Sweden during the 1970s and 1980s, with the largest increase being in the US. The increase in income inequality in the US occurred between educated workers and less-educated workers and between young workers and older workers. The largest increase in income inequality occurred in countries with less-centralized wage-setting institutions.

United Kingdom, Research, Australia, Canada, Netherlands, France, Sweden, International aspects, Industrialized countries, United States economic conditions, Industrial nations, Income distribution

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