In
2005, the World Bank published
the World Development Report
2006 on the question of equity,
while the United Nations published
its biennial Report on the
World Social Situation entitled
The Inequality Predicament
despite very important differences,
both these volumes focused
on the question of inequality
and advocated equity: the
World Bank report advocates
what it calls 'equal opportunity',
whereas the UN report emphasized
the structural determinants
of inequality in the global
system. In October 2007, the
International Monetary Fund
published its World Economic
Outlook on the subject of
Globalization and Inequality.
The publication of these volumes
has served to re-legitimise
study of the causes, measurement
and consequences of inequality.
Meanwhile, preliminary estimates
show that the concentration
of wealth throughout the world
is much higher, and perhaps
has been growing faster, than
the concentration of income
(Davies, et al. 2006).
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