What explains why Chile's new democracy has been able to judiciously combine market-guided or neoliberal economic policies with reformist and distributive programs, while India, the developing world's largest democracy, has failed to combine its far-reaching economic liberalisation program "with...

Introduction: prosperity with inequality in the age of globalization -- Widening income and wealth gap in United States -- Rising prosperity and widening inequality in the People's Republic of China -- Democracy, prosperity, and inequality in India -- Prosperity with equality: future directions

Since the 1991 balance of payments crisis, India has embarked on an ambitious program of economic liberalization. Over the past decade the Indian government has introduced a series of far-reaching reforms that have transformed the once closed economy. This paper examines the policy reforms and...

One of the Millennium Development Goals set by the United Nations is to reduce the global level of “extreme poverty” (the roughly 1.5 billion people whose income is less than $1 a day) by half by 2015. How can such a goal be reached? This paper argues that since the vast majority of the...