Employment and Income Distribution Constraints in Latin America
It is by now a commonplace to assert that most Latin American countries have experienced rather respectable per capita income growth rates over the past quarter-century but that the performance in the employment and income distribution dimensions has remained ‘unsatisfactory’ and is probably worsening. Certainly Latin American economies have thus far provided substantial support for the so-called ‘Kuznets law’ that income distribution must get worse before it gets better in the course of rapid growth, on a country-specific historical rather than simply a multicountry cross-sectional basis. Why is this so and can anything be done about it — in the light of our present understanding of development processes and of the specific Latin American reality?
KeywordsSugar Depression Steam Income Expense
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