The Costs of Inequality in Latin America: Lessons and Warnings for the Rest of the World

Description

From the United States to the United Kingdom and from China to India, growing inequality has led to social discontent and the emergence of populist parties, also contributing to economic crises. We urgently need a better understanding of the roots and costs of these income gaps. The Costs of Inequality draws on the experience of Latin America, one of the most unequal regions of the world, to demonstrate how inequality has hampered economic growth, contributed to a lack of good jobs, weakened democracy, and led to social divisions and mistrust. In turn, low growth, exclusionary politics, violence and social mistrust have reinforced inequality, generating various vicious circles. Latin America thus provides a disturbing image of what the future may hold in other countries if we do not act quickly. It also provides some useful lessons on how to fight income concentration and build more equitable societies.

Diego Sanchez-Ancochea is the Head of the Oxford Department and International Development and Professor of Political Economy of Development at the University of Oxford. He is also the associate editor of Oxford Development Studies, He has co-authored two monographs with Juliana Martinez Franzoni, Good Jobs and Social Services: How Costa Rica Achieved the Elusive Double Incorporation (2013) and The Quest for Universal Social Policy in the South: Actors, Ideas and Architectures (2016).

This is an excellent work on the complexities of inequality in Latin America and the lessons we can learn from ideas, social movements, and policies developed in middle income countries to reduce income and wealth inequality. This very important book is a must-read both for scholars of development studies and Latin American politics as well as for practitioners seeking to reduce inequality in developing and developed economies. * Dr Nestor Castaneda, University College London * A compelling case for the urgency of tackling inequality, in Latin America and the world, without falling into the temptation of a silver-bullet approach. Thanks to Diego's insightful book, we now have a better understanding of the policies, politics and history of Latin American inequality. This book will be useful to succeed in the battle against social injustice in the region. * Rebeca Grynspan, Ibero-American Secretary General *