Southern Economic Journal, January 1st, 1993
The correctness of Kuznets's inverted-U hypothesis associated with income inequality, which states that inequality would initially increase with economic development but then would fall eventually, is affirmed. This refutes Rati Ram's view as presented in 'Kuznets's Inverted-U Hypothesis: Evidence from a Highly Developed Country.' It is claimed that Ram's time-series results did not consider family composition in his use of inequality measures based on family incomes.
I. Introduction
In a recent article appearing in this journal, Ram |5~ presents evidence from the United States contradicting...
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