This paper demonstrates that internationally-accepted measures used to assess equality of opportunity tend to underestimate the level of inequality in emerging economies. The authors studied countries where longitudinal panel studies were available; comparing their results with others obtained through standard measures using official data. This allowed a comparison of income and consumption data for 12 … Read more
This working paper takes up the issue of multifaceted inequality by putting forth a new measure of unfair inequality. The authors argue that inequality is not bad per se, but that one should differentiate between different aspects of inequality in order to make normative statements about the fairness of a given income distribution.