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Diversity and Occasional AnarchyOn Deep Economic and Social Contradictions in Hong Kong$
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Yue Chim Richard Wong

Print publication date: 2013

Print ISBN-13: 9789888139446

Published to Hong Kong Scholarship Online: January 2014

DOI: 10.5790/hongkong/9789888139446.001.0001

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Education for Equality and Growth

Education for Equality and Growth

Chapter:
(p.157) 16 Education for Equality and Growth
Source:
Diversity and Occasional Anarchy
Author(s):

Yue Chim Richard Wong

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789888139446.003.0016

Understanding the factors and implications of income inequality in our society is of paramount importance. It tells us what has to be done to reduce inequality and alleviate the poverty problem. This chapter centres on the economic aspects of income inequality, and examines this phenomenon through the revenue perspective and the concept of positive economics. Inequality is considered the result of a race between technology and education, and in general, inequality occurs when educational changes lag far behind technological advances. Increasing the supply of skilled manpower can be achieved in four distinct ways, and they are instrumental in reducing income inequality in the long run. Education is construed by the author as an indispensable vehicle for arresting the trend of growing income inequality and promoting economic growth.

Keywords:   Income inequality, Economic growth, Technology, Education, Policies, Hong Kong, China, Economy

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