Does wealth inequality matter for growth? The effect of billionaire wealth, income distribution, and poverty

Use Forbes' list of billionaires to derive a global measure of wealth inequality. * Estimate effects of wealth inequality, income inequality, and poverty on growth. * Find that wealth inequality and economic growth have a negative relationship. * Control for the fact that some billionaires became rich using political connections. * Find that only politically connected wealth inequality and economic growth have a negative relationship. A fundamental question in social sciences relates to the effect of wealth inequality on economic growth. Yet, in tackling the question, researchers have had to u... Mehr ...