The Kuznets curve (/ˈkʌznɛts/) expresses a hypothesis advanced by economist Simon Kuznets in the 1950s and 1960s.[3] According to this hypothesis, as an economy develops, market forces first increase and then decrease economic inequality. The Kuznets curve appeared to be consistent with experience at the time it was proposed. However, since the 1960s, inequality has risen in the US and other developed countries. According to estimates put forward by Thomas Piketty inequality has now returned to the levels of the late 19th century[citation needed]. Thomas Piketty does not address standards of living when comparing the two dates, class mobility within a single generation, or the sociocultural impact that varying public policies have on economic inequality
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The Kuznets
Explanation:
The Kuznets curve (/ˈkʌznɛts/) expresses a hypothesis advanced by economist Simon Kuznets in the 1950s and 1960s.[3] According to this hypothesis, as an economy develops, market forces first increase and then decrease economic inequality. The Kuznets curve appeared to be consistent with experience at the time it was proposed. However, since the 1960s, inequality has risen in the US and other developed countries. According to estimates put forward by Thomas Piketty inequality has now returned to the levels of the late 19th century[citation needed]. Thomas Piketty does not address standards of living when comparing the two dates, class mobility within a single generation, or the sociocultural impact that varying public policies have on economic inequality
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