Author:
James K. Galbraith, The Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin (Texas, USA)
Abstract:
The author proposes that low and stable inequality is associated with strong institutions and wealth while high inequality becomes the fate of poorer countries with open economies, unstable commodity prices and interest rates, as well as military conflicts and political upheavals. At the same time, in the richest countries of the global center (especially in the United States), the main driver of inequality is the growing position of the financial sector and the market capitalization of the technology sector (companies) that control the “knowledge economy”.
Keywords: global inequality, technological change, knowledge economy, noonomy.
For citation:Galbraith J. K. (2024). Inequality and Industrial Change – a Noonomy Perspective. Noonomy and Noosociety. Almanac of Scientific Works of the S.Y. Witte INID, vol. 3, no. 3, pp. 19–30. DOI: 10.37930/2782-6465-2024-3-3-19-30