Capitalism and Inequality

About the Book

This book reinforces the fact that capitalism is not the enemy and that income and wealth inequality are society’s cost for economic prosperity and poverty reduction. While recognizing some of the problems associated with inequality, the author shows that inequality is tightly woven into the fabric of the market economy. This book highlights the logical connection between profit, profit motive, wealth creation, and enhanced economic well-being of citizens. It questions the economic logic and effectiveness of government policies aimed at reducing inequality while refuting the use of taxation to promote equality. Using China as an example, the book shows how capitalism has evolved into an efficient wealth-creating machine bringing prosperity to millions.

About the Author

About the Author Albert Duncan, PhD, is a graduate of New School University, and at present, he is an associate professor of economics with the City University of New York (CUNY). Dr. Duncan has written, presented, and produced many scholarly works on economic issues. His publications include (1) “Does A-Rod Deserve So Much Money? Yes,” an essay in the book Baseball and Philosophy: Thinking Outside the Batter’s Box (Eric Bronson [Illinois: Carus Publishing Company, 2004], p. 297); (2) “Devaluation and Trade: A Case of Jamaica” (Journal of International Finance and Economics 8 no. 4 [2008]); and (3) “Impact of the IMF’s Exchange Rate Policy on the Guyanese Economy” (Journal of International Finance Studies 12 no. 4 [2012]).