The evolution of civilization appears to have primarily resulted from continuous improvement made possible by technological advances. A group of social evolutionists and economists have identified, among others, energy, transport, as well as information and communication to be the three most...

The causal relationships between country-level economic development and inequality remain a matter of considerable debate and policy interest. This chapter contributes to the literature on this topic by presenting the results of short-run and long-run Granger causality tests in both directions....

The purpose of this paper is to construct a structural macroeconomic model to design monetary and fiscal policies aimed at attaining macroeconomic objectives. The study further attempts to simulate a baseline and policy scenario to evaluate the impact of such monetary and fiscal policy...

Although there have been significant warnings against the forthcoming Industrial Revolution, no one is able to confidently predict the future of convergence technologies and innovations. Nevertheless, states must be prepared for this uncertain future and be ready to mark new paths of innovation...

Whether technological progress amplifies or mitigates inequality remains a subject of heated debate. On the one hand, technological innovation has improved our lives, and many have undoubtedly benefitted from such innovation. In addition, the poorer segments of society have been partly able to...

This chapter examines whether rising income inequality is the stylised fact for the process of structural transformation by revisiting classical accounts on various theories of normative inequality dynamics, modernisation, and endogenous growth. In addition, a complex interaction between...