Inequality, Economic Growth and Business Decision-Making

Asis Kumar Banerjee

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English

Routledge
05 August 2024

Social groups; Sociology; Economic growth; Management decision making; Sales & marketing

Series: Routledge Focus on Management and Society

It is now widely recognised that rising inequality of income and wealth on the one hand and a slowdown in the rate of economic growth on the other are two of the most important challenges faced today by the global economy as well as by most of the developing economies. This book starts by explaining how these two issues are interrelated. There is no dearth of books on the role that the economic policies of the government can play in meeting these twin challenges. The role of business managers in the private sector of the economy, however, is a relatively neglected area. This book seeks to close this gap in the literature. The central message of the book is that, contrary to popular belief, it is in the interests of private business itself that business managers take into account the effects that their decisions have on the economy as a whole. It is shown that a failure to do so would hurt their own economic prospects in both the short run and the long. Emphasis is given on the importance of an appropriate orientation of managerial decisions and on the role of investors (i.e. the suppliers of capital) in inducing managers to take socially optimal decisions. The book is addressed as much to business managers and students in management courses as to the general reader. Therefore, no prior knowledge of advanced economic theory is presumed. All arguments are built from first principles.

By: Asis Kumar Banerjee
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
Weight: 400g
ISBN: 9781032707068
ISBN 10: 1032707062
Series: Routledge Focus on Management and Society
Pages: 114
Publication Date: 05 August 2024
Audience: College/higher education , Professional and scholarly , Professional and scholarly , Primary , Undergraduate
Format: Hardback
Publisher's Status: Active

1. Prologue 2. Inequality: The salient facts 3. Inequality and sluggish economic growth: A vicious circle 4. The long run sustainability of profits 5. Individual rationality versus group rationality 6. Epilogue

Asis Kumar Banerjee, former Vice-Chancellor and former Professor of Economics, University of Calcutta, has held visiting positions at Presidency College, Calcutta; Indian Statistical Institute, New Delhi; and University of California, Riverside, California. His research interests include development economics, welfare economics, game theory and the measurement of inequality and poverty. His previous publications include the books Measuring Development: An Inequality Dominance Approach (2020) and Economic Slowdown in India: An Introductory Analysis (2023).