Abstract
In the 1950s, a future Nobelist Simon Kuznets discovered the following phenomenon: as a country’s economy improves, inequality first grows but then decreases. In this paper, we provide a simple dynamical system-based explanation for this empirical phenomenon.
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Acknowledgments
This work was supported by Chiang Mai University, Thailand. This work was also supported in part by the National Science Foundation grants HRD-0734825 and HRD-1242122 (Cyber-ShARE Center of Excellence) and DUE-0926721, and by an award “UTEP and Prudential Actuarial Science Academy and Pipeline Initiative” from Prudential Foundation.
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Dumrongpokaphan, T., Kreinovich, V. (2018). Kuznets Curve: A Simple Dynamical System-Based Explanation. In: Kreinovich, V., Sriboonchitta, S., Chakpitak, N. (eds) Predictive Econometrics and Big Data. TES 2018. Studies in Computational Intelligence, vol 753. Springer, Cham. https://doi.org/10.1007/978-3-319-70942-0_9
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DOI: https://doi.org/10.1007/978-3-319-70942-0_9
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