The world at large is watching both China and India as powerhouses of economic growth. The two nations have achieved significantly high rates of economic growth ever since their respective economies liberalized in 1978 and 1991. Singapore, despite its limited land size and almost total dependence on external trade, has performed remarkably well and has moved from the third world to the first. This book documents and explains the rapid economic growth of the three key Asian economies.The book also looks at what has happened to income inequality in the context of superior growth performance. It makes comparative assessments and examines the implications for the three nations. Since free markets have nothing in them to produce a reduction in income inequality among persons/households, one must at best hope for equality of opportunity notably reflected in identical schooling for all; identical health care for all; and minimal rather than vulgar inequality in housing. This book is particularly useful for both China and India which may wish to study and learn from Singapore in regard to the policies, programmes and projects aimed at ensuring equality of opportunity. The book is backed by considerable expertise on the part of the researchers, with demonstrated expertise through their publications spawning a few decades. It is invaluable to those who are concerned with designing policies for developing countries aimed at rapid and inclusive economic growth.This book has been made possible by the intellectual and financial support extended by the Global Asia Institute, National University of Singapore.

This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.

Society is continually moving towards global interaction, and nations often contain citizens of numerous cultures and backgrounds. Bi-culturalism incorporates a higher degree of social inclusion in an effort to bring about social justice and change, and it may prove to be an alternative to the existing dogma of mainstream Europe-based hegemonic bodies of knowledge. The Handbook of Research on Indigenous Knowledge and Bi-Culturalism in a Global Context is a collection of innovative studies on the nature of indigenous bodies’ knowledge that incorporates the sacred or spiritual influence across various countries following World War II, while exploring the difficulties faced as society immerses itself in bi-culturalism. While highlighting topics including bi-cultural teaching, Africology, and education empowerment, this book is ideally designed for academicians, urban planners, sociologists, anthropologists, researchers, and professionals seeking current research on validating the growth of indigenous thinking and ideas.

World Inequality Report 2022 is the most authoritative and comprehensive account of global trends in inequality, providing cutting-edge information about income and wealth inequality and also pioneering data about the history of inequality, gender inequality, environmental inequalities, and trends in international tax reform and redistribution.

This book provides a comprehensive analysis of India’s social and economic transformation in the decades leading up to the COVID-19 pandemic and explores both resilience and vulnerabilities in Indian society. It provides an in-depth look into diverse aspects of how Indians live, earn a living and care for their children by examining vital indicators such as poverty, malnutrition, health and marriage and family relationships, among others. Analysing the data from the India Human Development Surveys, it presents a complex picture of India’s transformation and large economic and educational gains, while exploring the reasons why these have not translated into social transformation of a similar magnitude. The volume also describes the backdrop against which the COVID-19 pandemic crippled the Indian economy. In effect, it foreshadows the challenges that need to be addressed on the road to recovery. It argues that in order to reduce the scarring and ensure recovery for all, it will be important to focus on the underlying conditions faced by the most vulnerable sections of the Indian society as policymakers seek to effectively tend to issues of socio-economic inequality and marginalisation in the long run. Rich in data and analysis, this book will be useful for scholars and researchers of economics, political economy, sociology and development studies.

This book reviews the fulfillment of two Millennium Development Goals (MDGs), namely poverty and inequality, in the Indian subcontinent. It examines the complex interplay among development, inequality and poverty in relation to corruption, environmental resource management, agricultural adjustment to climate change and institutional arrangements, with a special focus on the Northeastern region of the country. The topics covered offer a blend of theoretical arguments and empirical data with regard to the three main themes of the book, while also providing agricultural and environmental perspectives. The book also provides guidelines for policy initiatives for harnessing the region’s potential in the areas of industry, trade, sustainable use of mineral, forest and other natural resources, nature-based tourism through proper infrastructure development, and resolving land issues to achieve inclusive development.In addition to introducing some new questions on the development-ethnic conflict interface, it uses sophisticated tools such as the Blinder–Oaxaca decomposition method in consumption expenditure to show the endowment, and return to endowment effects; and techniques like spatial correlation-regression to analyze regional variation, co-integration, vector autoregression, the panel data technique and the adaptation index to climate change, to understand socio-economic complexities and the effect of the concerned variables on entrepreneurship and human development.The book offers a timely contribution to our understanding of major MDGs and highlights their successes and failures. It also includes analytical frameworks that are key to future policy initiatives. Further, it disseminates approaches and methods that improve livelihoods and standards of living through poverty reduction and promoting inclusive development along with sustainable utilization of available natural resources. Putting forward various ideas for creating a more sustainable future, it inspires and encourages readers to pursue further studies to address the gaps that still remain.