 "Equality-efficiency trade-off")
I refer to the three erudite articles written by the famous economist Pranab Bardhan: “Does inequality matter when poverty is falling?”, “Equality-efficiency trade-off”, and “A link among inequality, conflict and cooperation” (September 4, 5 and 6 respectively).
For an analysis of the relationship between wide inequality in the economy and economic development and various other factors, his articles are simply scintillating. His conclusion that the conditions of the poor may be improving but those of the rich are improving much more is correct. He has busted the theory of “tolerating even a large dose of inequality if it improves the aggregate
