World trends in the distribution of national incomes and problems of economic and social development

Abstract

The authors have analyzed trends of ever-growing inequality in the distribution of income and wealth in major national and world economies over the last 40 years. The prospects of further increase in the unequal distribution of national incomes are fraught with far-reaching social, political and economic upheavals. The prospects of this kind are highly possible because of the trend to decrease the rates of income taxes (coerced by global competition) that leads to unequal national income distribution. The authors elaborate patterns of possible changes in fiscal policy that could serve for better quality of life for all strata of the population despite unequal distribution of national incomes.