This book answers why democracy has failed to deliver effective solutions to income inequality problems over the last four decades, and if democracy can offer solutions to various increases in inequality in the future. A useful resource for researchers, scholars, and policymakers concerned with issues of inequality and income redistribution.

Hwan Joo Seo is Professor at the Division of Business Administration at Hanyang University ERICA Campus, South Korea. He received his PhD in Economics at École des hautes études en sciences sociales in 1998. His research interests focus on the theory of régulation, income equality, and political economy.

Sung Jin Kang is Professor in the Department of Economics at Korea University. He received PhD in Economics at Stanford University in 1999. Recently his research has focused on green finance, low carbon transition and global green trade, sustainable development, etc.

Contents

Chapter 1: Introduction

Chapter 2: The Cumulative Rise of Multiple Inequalities

Chapter 3: Can Democracy effectively mitigate the simultaneous rise of different forms of Inequality?

Chapter 4: Why has the M-R Hypothesis failed to materialize in Democratic Nations?

Chapter 5: Estimation Model Specifications and Results

Chapter 6: Conclusion

Index