Summary of Political Capitalism

The Interaction between Income Inequality, Economic Freedom and Democracy

CESifo Group Munich ,

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Political Capitalism summary
Research shows that widely disparate levels of income within a country affect its “economic freedom.”

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Recommendation

Income inequality as a factor in national development has come increasingly under scrutiny. This academic but accessible report from professors Tim Krieger and Daniel Meierrieks offers new empirical evidence on the impacts of income gaps on “economic freedom” and on the hazards of “political capitalism.” getAbstract recommends this timely study to economists, policy makers and others concerned about growing income inequality.

In this summary, you will learn

  • How growth and “economic freedom” interrelate
  • What impact income inequality has on economic freedom
  • How political systems influence economic freedom
 

Summary

According to a number of studies, “economic freedom” – characterized by market-friendly policies such as stable property rights and low regulation – has a positive influence on a nation’s economic growth. Levels of economic freedom vary widely across the world and appear to be higher in advanced economies...
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About the Authors

Tim Krieger and Daniel Meierrieks are professors at the University of Freiburg in Germany.


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