This paper examines the implications of income redistribution on human capital accumulation and income inequality, presenting a model where human capital investment is indivisible and agents differ in economic opportunity as well as intellectual ability. It is shown that the impact of...

The basic premise of this book is that the conversation on the future of development needs to shift from a focus on poverty to that of inequality. The poverty emphasis is in an intellectual and political cul de sac. It does not address the fundamental question of why people are poor nor what can...