Equity is an abstract concept covering philosophical issues such as fairness and social justice, making its definition and measurement complex. This volume tackles these complexities head-on. The book is enriched with many empirical analyses and provides a comprehensive analysis of equity ranging from concepts and measurements to empirical illustrations and policy implications. After an extensive discussion on equity in the introduction, this volume begins with a chapter on well-being where the concepts of functioning and capability are discussed. This is followed by a few chapters on what an equitable distribution is and how equity can be measured. The volume then provides a definition and a methodology to measure equitable growth, examining the relationship between growth, inequality, and poverty. It also presents various empirical illustrations and country-specific experiences with three country case studies which assess whether publicly provided health and education services are equitable in developing Asia, examining the extent to which these social services favor the poor as well as the policy challenges to a more equitable delivery of these services. Finally, these country studies provide evidence–based policy recommendations to improve equity in social service delivery in developing countries. Achieving social equity has long been an important policy goal. There are relatively few studies on equity. This book aims to help fill this gap with an in-depth analysis of the issues associated with equity, covering its concept, measurement, and policy practices and implications.

In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.

Surely everyone wants to know the source of happiness, and indeed, economists and social scientists are increasingly interested in the study and effects of subjective well-being. Putting forward a rigorous method and new data for measuring, comparing, and analyzing the relationship between well-being and the way people spend their time—across countries, demographic groups, and history—this book will help set the agenda of research and policy for decades to come. It does so by introducing a system of National Time Accounting (NTA), which relies on individuals’ own evaluations of their emotional experiences during various uses of time, a distinct departure from subjective measures such as life satisfaction and objective measures such as the Gross Domestic Product. A distinguished group of contributors here summarize the NTA method, provide illustrative findings about well-being based on NTA, and subject the approach to a rigorous conceptual and methodological critique that advances the field. As subjective well-being is topical in economics, psychology, and other social sciences, this book should have cross-disciplinary appeal.

Why has an economy that has done so many things right failed to grow fast? Under-Rewarded Efforts traces Mexico’s disappointing growth to flawed microeconomic policies that have suppressed productivity growth and nullified the expected benefits of the country’s reform efforts. Fast growth will not occur doing more of the same or focusing on issues that may be key bottlenecks to productivity growth elsewhere, but not in Mexico. It will only result from inclusive institutions that effectively protect workers against risks, redistribute towards those in need, and simultaneously align entrepreneurs’ and workers’ incentives to raise productivity.

Perhaps no economist was more vindicated by the global financial crisis than Hyman P. Minsky (1919–96). Although a handful of economists raised alarms as early as 2000, Minsky's warnings began a half-century earlier, with writings that set out a compelling theory of financial instability. Yet even today he remains largely outside mainstream economics; few people have a good grasp of his writings, and fewer still understand their full importance. Why Minsky Matters makes the maverick economist’s critically valuable insights accessible to general readers for the first time. L. Randall Wray shows that by understanding Minsky we will not only see the next crisis coming but we might be able to act quickly enough to prevent it. As Wray explains, Minsky’s most important idea is that "stability is destabilizing": to the degree that the economy achieves what looks to be robust and stable growth, it is setting up the conditions in which a crash becomes ever more likely. Before the financial crisis, mainstream economists pointed to much evidence that the economy was more stable, but their predictions were completely wrong because they disregarded Minsky’s insight. Wray also introduces Minsky’s significant work on money and banking, poverty and unemployment, and the evolution of capitalism, as well as his proposals for reforming the financial system and promoting economic stability. A much-needed introduction to an economist whose ideas are more relevant than ever, Why Minsky Matters is essential reading for anyone who wants to understand why economic crises are becoming more frequent and severe—and what we can do about it.

This book investigates the role of wealth in achieving sustainable rural economic development. The authors define wealth as all assets net of liabilities that can contribute to well-being, and they provide examples of many forms of capital – physical, financial, human, natural, social, and others. They propose a conceptual framework for rural wealth creation that considers how multiple forms of wealth provide opportunities for rural development, and how development strategies affect the dynamics of wealth. They also provide a new accounting framework for measuring wealth stocks and flows. These conceptual frameworks are employed in case study chapters on measuring rural wealth and on rural wealth creation strategies. Rural Wealth Creation makes numerous contributions to research on sustainable rural development. Important distinctions are drawn to help guide wealth measurement, such as the difference between the wealth located within a region and the wealth owned by residents of a region, and privately owned versus publicly owned wealth. Case study chapters illustrate these distinctions and demonstrate how different forms of wealth can be measured. Several key hypotheses are proposed about the process of rural wealth creation, and these are investigated by case study chapters assessing common rural development strategies, such as promoting rural energy industries and amenity-based development. Based on these case studies, a typology of rural wealth creation strategies is proposed and an approach to mapping the potential of such strategies in different contexts is demonstrated. This book will be relevant to students, researchers, and policy makers looking at rural community development, sustainable economic development, and wealth measurement.